Offcie of the Comptroller of the Currency - News, Articles & Research

Major US banks dial down information sharing with OCC after email hack

JPMorgan Chase and Bank of New York Mellon have reportedly scaled back electronic information sharing with the Office of the Comptroller of the Currency (OCC) following a significant breach of the regulator’s email system.

15 April 2025

Company announcement/regulation

OCC endorses SmartBiz takeover of CenTrust Bank

The Office of the Comptroller of the Currency (OCC) today announced conditional approval of the application for financial technology (fintech) company SmartBiz Loans to change the business model of CenTrust Bank, N.A., Northbrook, Illinois, upon its acquisition of CenTrust Bank, N.A.

18 March 2025

Company announcement/crypto

OCC withdraws policy on bank engagement with cryptocurrency

The Office of the Comptroller of the Currency (OCC) today took action to reaffirm that a range of cryptocurrency activities are permissible in the federal banking system.

10 March 2025

Company announcement/regulation

OCC hits Bank of America with cease and desist order over sanctions screening violations

The Office of the Comptroller of the Currency (OCC) today issued a cease-and-desist order (order) against Bank of America, N.A. (bank) for deficiencies related to its Bank Secrecy Act (BSA) and sanctions compliance programs.

08 January 2025

Company announcement/regulation

OCC hits MUFG Union Bank with cease and desist order over IT failings

The Office of the Comptroller of the Currency (OCC) today issued a Cease and Desist Order against MUFG Union Bank, N.A.

21 September 2021

Company announcement/regulation

OCC terminates Wells Fargo AML consent order

Wells Fargo & Company (NYSE: WFC) today announced that the Office of the Comptroller of the Currency (OCC) has terminated a 2015 consent order related to the company’s Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program.

06 January 2021

News/crypto

OCC approves the use of stablecoins for banking transactions

Top US banking regulator, the Office of the Comptroller of the Currency, has approved the use of stablecoins for the settlement of financial transactions by banks.

05 January 2021

Company announcement/inclusion

Oportun Applies for National Bank Charter with the Office of the Comptroller of the Currency

Oportun Financial Corporation (Nasdaq: OPRT), a mission-driven financial institution providing inclusive, affordable financial services, today announced it has submitted an application with the OCC to establish Oportun Bank, N.A.

26 November 2020

Company announcement/regulation

USAA fined $85 milion for defective compliance and IT risk management

The Office of the Comptroller of the Currency (OCC) today assessed a $85 million civil money penalty against USAA, Federal Savings Bank.

16 October 2020

News/crypto

Top US regulator paves the way for banks to offer crypto custody

The Office of the Comptroller of the Currency (OCC) has given the green light for banks to begin offering cryptocurrency custody services.

23 July 2020

Company announcement/regulation

OCC lists cyber threats and emerging technologies in risk outlook

The Office of the Comptroller of the Currency (OCC) today reported operational, credit, and interest rate risks are among the key themes for the federal banking system in its Semiannual Risk Perspective for Fall 2019.

10 December 2019

News

US regulators approve alternative data to assess creditworthiness

Federal banking regulators in the US have given their support to the use of the alternative data other than traditional credit scores in determining creditworthiness.

05 December 2019