PYMNTS

DECEMBER 10, 2018

There may also be a new federal requirement for companies to disclose beneficial owners upon a company’s incorporation.

Regulations 69

Regulations AML Office of the Comptroller of the Currency Money Laundering 69

Payments Source

SEPTEMBER 19, 2019

A federal judge blocked state regulators from suing the agency over its new charter, but it’s still unclear whether fintechs would even apply.

OCC 102

OCC FinTech Blocks Regulations 102

PYMNTS

MAY 24, 2018

The Office of the Comptroller of the Currency (OCC) issued a new guidance encouraging banks to offer responsible short-term, small-dollar loans to their customers. In 2013, the OCC had discouraged short-term lending by banks with limitations on what could be offered to customers depending on their credit.

OCC 40

OCC Consumer Financial Protection Bureau (CFPB) Office of the Comptroller of the Currency CFPB 40

PYMNTS

SEPTEMBER 21, 2020

Separately, last month, five federal regulatory agencies – including the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the Financial Crimes Enforcement Network (FinCEN), the National Credit Union Administration (NCUA) and the Office of the Comptroller of the Currency (OCC) – issued a joint statement designed to address questions (..)

Fincen 139

Fincen AML Suspicious Activity Report (SAR) Financial Crimes 139

PYMNTS

DECEMBER 3, 2019

The Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), FinCEN , the OCC and the Conference of State Bank Supervisors participated in issuing the definitions and guidelines. Banks no longer have to submit a suspicious activity report (SAR) just because a business is growing or cultivating hemp.

Suspicious Activity Report (SAR) 55

Suspicious Activity Report (SAR) BSA Rules Office of the Comptroller of the Currency 55

PYMNTS

NOVEMBER 20, 2020

In a July interview with the Financial Times , acting head of the Office of the Comptroller of the Currency (OCC) Brian Brooks said banks should not use the pandemic as a reason to close branches permanently. Officially the regulatory powers that govern banking aren’t on board with this switch.

Office of the Comptroller of the Currency 88

Office of the Comptroller of the Currency Online and Mobile Banking OCC Federal Reserve 88

FICO

OCTOBER 4, 2016

The Act requires federal banking agencies (the OCC, FDIC and Federal Reserve – “Agencies”) to conduct periodic reviews of each depository institution’s efforts in this area.

Federal Reserve 74

Federal Reserve OCC FDIC Correspondent 74

PYMNTS

JANUARY 13, 2021

The Federal Reserve, the Federal Deposit Insurance Corp. FDIC) and the Treasury Department have reportedly launched an inquiry into American Express Co. FDIC) and the Treasury Department have reportedly launched an inquiry into American Express Co. Amex Under Fed Scrutiny Over SMB Card Practices.

Office of the Comptroller of the Currency 66

Office of the Comptroller of the Currency Commercial Card Credit Cards Small Business 66

Finovate

MAY 6, 2024

FDIC and CFPB have issued multiple consent orders to banks, citing their BaaS relationships as the cause. regulators– the Board of Governors of the Federal Reserve System, the FDIC, and the OCC– have published a new third party risk management guide for community banks. Since late 2023, the U.S.

Regulations 52

Regulations Community Banks FDIC Due Diligence 52

FICO

JANUARY 13, 2020

In December, the FDIC and OCC issued a proposed rule to modernize the Community Reinvestment Act (CRA). The regulators set an aggressive deadline for public comments by requiring responses within 60 days of publication in the Federal Register. In addition, the Federal Reserve did not join the FDIC and OCC on the proposal.

AML 52

AML Authentication Finance OCC 52

Global Fintech & Digital Assets

JANUARY 12, 2024

Key Provisions The FAIR Exams Act would amend the Federal Financial Institutions Examination Council Act of 1978 in three primary ways: 1. Whether the bill will garner enough support in Congress to become law remains to be seen.

FFIEC 52

FFIEC Process FRB Consumer Financial Protection Bureau (CFPB) 52

FICO

MAY 6, 2019

The Federal Reserve, OCC and FDIC have all recognized the importance of such careful monitoring, and issued regulatory guidance (SR 11-7 and OCC 11-12) that requires lenders to validate their models annually. Shift in Odds to Score ? Score Inflation.

Underwriting 75

Underwriting OCC Credit Risk Risk 75

PYMNTS

FEBRUARY 19, 2019

banking industry is in flux, largely thanks to federal policy that has made it easier (and faster) for institutions to merge. As concerns are raised about how industry consolidation might impact competition, Federal Reserve Chairman Jerome Powell is warning that it could hinder small businesses’ access to capital and financial services.

Fed 43

Fed Federal Reserve Office of the Comptroller of the Currency OCC 43

PYMNTS

NOVEMBER 23, 2017

22) report by American Banker , New York Venture Bank, which will be headquartered in New York, needs the nod of the Office of the Comptroller of the Currency (OCC) before it can launch operations. Citing documents filed with the Federal Deposit Insurance Corp. According to a Wednesday (Nov.

Consumer Financial Protection Bureau (CFPB) 40

Consumer Financial Protection Bureau (CFPB) Office of the Comptroller of the Currency FDIC Federal Reserve 40

PYMNTS

DECEMBER 18, 2018

That’s in part because several federal agencies recently have come out — together — in support of banks embracing innovation in their compliance efforts.

Compliance 61

Compliance AML Money Laundering Office of the Comptroller of the Currency 61

PYMNTS

DECEMBER 14, 2018

News came earlier in the month that several federal agencies have come out — together — in support of banks embracing innovation in their compliance efforts.

Financial Crimes 59

Financial Crimes Crime Fincen Office of the Comptroller of the Currency 59

PYMNTS

FEBRUARY 15, 2019

As noted in this space late last year, five federal agencies spoke out, and presented a statement that detailed how credit unions and banks could share resources to make Bank Secrecy Act compliance efforts more streamlined.

BSA 49

BSA Credit Union Business Email Compromise Office of the Comptroller of the Currency 49

PYMNTS

AUGUST 29, 2018

Reuters , citing the OCC , reported the government agency is seeking public comment in what would be the first step to overhaul the law, which banks have contended needed an overhaul since the 1990s when it was last updated. Overseeing the Community Reinvestment Act is the shared responsibility of the OCC, Federal Deposit Insurance Corp.,

OCC 40

OCC Office of the Comptroller of the Currency Process Federal Reserve 40

Payments Source

AUGUST 7, 2020

Whoever wins the White House in November may have immediate agency openings to fill, while a key decision looms about who will run the Federal Reserve after Jerome Powell’s term expires in 2022.

Federal Reserve 73

Federal Reserve Regulations OCC FDIC 73

PYMNTS

OCTOBER 11, 2017

There’s the OCC for national banks; for small state there is the FDIC; medium banks have the Fed and there is NCUA for credit unions. The Federal Deposit Insurance Corporation’s (FDIC) chairman’s term will come to an end next month, and it’s likely no new guidance will come from there until his permanent replacement is in office.

Rules 43

Rules CFPB NCUA Credit Union 43

FICO

DECEMBER 19, 2018

This month, a group of federal agencies including the Federal Reserve, OCC, FDIC and the Financial Crimes Enforcement Network (FinCEN) issued a joint statement which encourages banks to consider, evaluate, and responsibly implement innovative solutions to BSA/AML compliance.

BSA 40

BSA Fincen Suspicious Activity Report (SAR) SARS 40

FICO

FEBRUARY 23, 2017

OCC, FDIC, Federal Reserve, CFPB, FHFA and SEC) and report to the President within 120 days the extent to which current laws, regulations and oversight requirements, including those connected with the Dodd-Frank Act, help promote the six core principles. He has already nominated a new head of the SEC.

Federal Reserve 40

Federal Reserve OCC CFPB FDIC 40

FICO

JULY 17, 2017

We have already seen new leaders at the Federal Communication Commission (FCC) and the Securities Exchange Commission (SEC), while the President has recently nominated a new head of the Office of the Comptroller of the Currency (OCC).

Consumer Financial Protection Bureau (CFPB) 40

Consumer Financial Protection Bureau (CFPB) CFPB Office of the Comptroller of the Currency Financial Crimes 40