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13 Results from /regulation, "Office of the Comptroller of the Currency"

/regulation

OCC latest US regulator to give banks crypto freedom

The Office of the Comptroller of the Currency (OCC) today clarified permissible bank activities related to crypto-asset custody and execution services.

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OCC issues request for information on community bank digitalisation

The Office of the Comptroller of the Currency (OCC) today issued a request for information (RFI) on the key challenges and barriers faced by community banks in the adoption and implementation of digital banking solutions.

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OCC restructures organization

The Office of the Comptroller of the Currency (OCC) today announced changes to its organizational structure to ensure its approach to supervision evolves to better address today’s challenges, align similar functions within the agency, and leverage opportunities for efficiencies.

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OCC withdraws principles or climate-related financial risk management for large FIs

The Office of the Comptroller of the Currency (OCC) today withdrew its participation in the interagency principles for climate-related financial risk management for large financial institutions.

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US Bank hit with multi-million dollar fines over prepaid card programme for the unemployed

The Office of the Comptroller of the Currency (OCC) today assessed a $15 million civil money penalty against U.S. Bank, National Association, Cincinnati, Ohio, for violations of law relating to the bank’s administration of a prepaid card program to distribute public unemployment insurance benefit payments.

/regulation

OCC names Kristen Baldwin CIO

The Office of the Comptroller of the Currency (OCC) today announced the selection of Kristen Baldwin to be the agency's Chief Information Officer (CIO), effective February 26, 2023.

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US bank regulators release paper on operational resilience

Federal bank regulatory agencies today released a paper outlining sound practices designed to help large banks increase operational resilience.

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State regulators go back to court over OCC's fintech charter plans

The Conference of State Bank Supervisors (CSBS) today filed a complaint in the U.S. District Court for the District of Columbia against the Office of the Comptroller of the Currency (OCC).

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Otting sworn in as US Comptroller of the Currency

Joseph M. Otting today became the 31st Comptroller of the Currency, after being sworn into office by Secretary of the Treasury Steven T. Mnuchin and being confirmed by the U.S. Senate on November 16, 2017.

/regulation

OCC issues guidance for banks as US prepares for T+2

The OCC expects that as of the T+2 compliance date, in accordance with industry standards and applicable securities and self-regulatory organizations’ rules for securities clearance and settlement, banks will not effect or enter into a contract for the purchase or sale of an affected security that provides for payment of funds or delivery of securities later than the second business day after the date of the contract, unless otherwise expressly agreed to by the parties at the time of the transaction.

/regulation

OCC issues draft revision to Licensing Manual for fintechs seeking bank charter status

The Office of the Comptroller of the Currency (OCC) today provided additional detail on evaluating national bank charter applications from financial technology (fintech) companies that engage in the business of banking.

/regulation

OCC finalises heightened standards for large financial institution

The Office of the Comptroller of the Currency (OCC) today published final guidelines to strengthen the governance and risk management practices of large financial institutions.

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