On November 23, 2021, the OCC, Federal Reserve Board, and FDIC issued a joint final rule that requires banking organizations and their service providers to report certain computer-security incidents. A computer-security...more
Federal banking regulators have again demonstrated their focus on bank oversight and management of risk from third party relationships through a series of guidance and proposed guidance published in the third quarter of 2021....more
10/25/2021
/ Banking Regulators ,
Banking Sector ,
Community Banks ,
Compliance ,
Cybersecurity ,
FDIC ,
Federal Reserve ,
FinTech ,
Internal Controls ,
OCC ,
Partnerships ,
Popular ,
Proposed Guidance ,
Risk Management ,
Third-Party Risk
In September, Biden nominated Saule Omarova to head up the OCC as Comptroller of the Currency after a months’ long candidate search. Earlier this year, potential nominees for the Comptroller included Michael Barr, who...more
On March 9, a three-judge panel of the Second Circuit heard oral argument on the question of whether the OCC can legally issue national bank charters to non-depository financial technology (fintech) firms. The case is...more
3/16/2021
/ Appeals ,
Banking Sector ,
CSBS ,
Dismissals ,
FinTech ,
Fintech Charter ,
National Bank Act ,
Nonbank Firms ,
NYDFS ,
OCC ,
Oral Argument ,
Preemption ,
Regulatory Authority ,
Standing
On October 23, the District Court for the Southern District of New York (SDNY) issued a final judgment setting aside in relevant part the regulation on which the Office of the Comptroller of the Currency (OCC) based its...more