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Electronic Payments Coalition
OCTOBER 3, 2024
In a court filing late on October 2nd, the Office of the Comptroller of the Currency (OCC) blasted the first-of-its kind Illinois law as an “ill-conceived, highly unusual, and largely unworkable state law that threatens to fragment and disrupt” the nation’s banking system.
Payments Dive
OCTOBER 3, 2024
The Office of the Comptroller of the Currency blasted an Illinois law that prohibits credit and debit card interchange fees on tips and excise taxes.
Finextra
DECEMBER 7, 2023
The Office of the Comptroller of the Currency (OCC) has issued guidance to US banks warning them to make sure that buy now, pay later loans are offered in a "safe and sound" manner.
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PYMNTS
OCTOBER 31, 2016
The Office of the Comptroller of the Currency (OCC) disclosed it was hacked in September, reported The Wall Street Journal last week. WSJ cited an OCC spokesman as saying the data included information “related to OCC activities and employees.” The incident occurred in Nov.
Finextra
OCTOBER 18, 2024
The Office of the Comptroller of the Currency (OCC) has filed an enforcement action against Axiom Bank in Florida.
Payments Source
DECEMBER 10, 2020
BitPay and Paxos are only the latest digital currency companies to pursue a national charter from the Office of the Comptroller of the Currency.
PYMNTS
JANUARY 15, 2021
The Office of the Comptroller of the Currency (OCC) released a finalized rule on ensuring fair access to banking services from large national banks, federal savings associations, and federal branches and agencies of foreign bank organizations, according to a press release.
86 
Payments Source
JANUARY 5, 2021
The digital currency and related distributed-ledger technologies could "enhance the efficiency, effectiveness and stability of the provision of payments," according to an interpretive letter issued by the Office of the Comptroller of the Currency.
Payments Source
SEPTEMBER 15, 2020
With the Office of the Comptroller of the Currency considering a special charter for payments firms, a state regulator group said large money transmitters can opt for the “one company, one exam” program next year.
Payments Source
JUNE 15, 2020
The Office of the Comptroller of the Currency has endured a fairly choppy legal ride since unveiling its idea five years ago to establish a special charter for non-bank fintech companies to access a nationwide financial system for lending services without worrying about being licensed to do so in all 50 states.
PYMNTS
SEPTEMBER 23, 2020
In today’s top news in digital-first banking, the Office of the Comptroller of the Currency (OCC) has issued stablecoin guidance, and Deutsche Bank intends to decrease the size of its brick-and-mortar footprint. A letter by the OCC published on Monday (Sept.
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Global Fintech & Digital Assets
DECEMBER 21, 2023
The OCC outlines safety and soundness principles and appropriate risk management processes for its regulated institutions that engage in BNPL lending. The OCC expects that banks engaged in BNPL lending “do so within a risk management system that is commensurate with associated risks.” By Arthur S.
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The Paypers
FEBRUARY 6, 2024
Vast Bank has decided to shut down its mobile crypto app and exit the cryptocurrency industry after receiving a consent order from the Office of the Comptroller of the Currency (OCC) in October 2023.
PYMNTS
JULY 22, 2020
Banks chartered by the federal government can offer digital currency custody services, the Office of the Comptroller of the Currency (OCC) said in a Wednesday (July 22) announcement.
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Finovate
FEBRUARY 1, 2024
Office of the Comptroller of the Currency (OCC) fined City National $65 million in a civil money penalty. The OCC said the California-based bank “engaged in unsafe or unsound practices,” stating that it failed to establish effective risk management and internal controls. This week, U.S.
59 
PYMNTS
JULY 31, 2019
The Office of the Comptroller of the Currency (OCC) has announced that it’s going to realign about 150 staff members in two new units, the organization said in a press release. . Deputy Comptroller for Supervision Risk Management Bob Phelps has been chosen to run the new unit. .
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Finextra
DECEMBER 20, 2023
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.
PYMNTS
JANUARY 23, 2020
The Office of the Comptroller of the Currency (OCC) is putting together “so-called notices of charges” against 10 people, although settlements could be extended to some, the sources said. An OCC spokesman declined to comment, as did representatives for Tolstedt, Hardison and Julian.
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PYMNTS
NOVEMBER 23, 2020
In today’s top news in digital-first banking, The Office of the Comptroller of the Currency (OCC) has proposed a personal banking rule intended to level the playing field, while U.S. OCC Calls for Equal Access to Banking Services.
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PYMNTS
NOVEMBER 23, 2020
The Office of the Comptroller of the Currency ( OCC ) has proposed personal banking regulations intended to level the playing field. . The proposal would systemize over 10 years of OCC guidance, asking banks to extend services based on individual risk assessment instead of category-based assessment.
68 Finextra
NOVEMBER 24, 2023
The Office of the Comptroller of the Currency's first chief financial technology officer is no longer in place amid revelations that his CV was riddled with falsehoods, including about his former employment at major banks, according to reports.
The Fintech Times
MARCH 6, 2024
The regulatory tides may be changing in the US, as the Office of the Comptroller of the Currency (OCC) suggests banks should be doing more to manage risks related to partnering with fintech firms. Rick Kuci, COO of FundKite “Unfortunately, many banks caused this risk issue for themselves.
67 
PYMNTS
JULY 1, 2020
The Office of the Comptroller of the Currency (OCC) said in a report this week that it will examine how the coronavirus is impacting compliance by financial institutions (FIs). The pandemic has heightened risks for pretty much everyone, including U.S.
66 
PYMNTS
JANUARY 21, 2021
In today’s top news, President Biden is expected to pick Michael Barr to head the OCC, and Janet Yellen, Biden’s pick for Treasury Secretary, is expected to take a hard stance toward crypto. Biden Expected To Name Professor Michael Barr To Head OCC. Plus, the chief of the CFPB stepped down at Biden’s request.
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PYMNTS
JUNE 2, 2020
Brooks , Acting Comptroller of the Currency, said in a series of letters that some states’ long-term efforts to curb the coronavirus could lead to reduced real estate values and debt payments. Brooks has only just taken office as of the beginning of June, after his predecessor Joseph Otting stepped down May 29.
52 
PYMNTS
DECEMBER 4, 2019
The OCC wrote a letter in July outlining a to-do list for the department, saying that it needed to handle thousands of complaints and handle compensation structures. “We One executive, who was in charge of the HR department, was put on leave after being accused of failings by the OCC.
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Payments Source
DECEMBER 2, 2016
The Office of the Comptroller of the Currency will start granting limited-purpose bank charters to fintech companies, but intends to maintain high standards for new entrants.
PYMNTS
JANUARY 13, 2021
The Office of the Comptroller of the Currency (OCC) granted digital asset platform Anchorage Trust Company a digital banking license, according to a press release Wednesday (Jan. With the national trust bank charter, South Dakota-based Anchorage will become Anchorage Digital Bank , National Association.
Payments Source
DECEMBER 20, 2018
The Office of the Comptroller of the Currency has gotten the ball rolling for financial technology firms trying to operate a national platform, but the FDIC and Federal Reserve should act to remove other policy roadblocks.
PYMNTS
JULY 26, 2017
Treasury’s Office of the Comptroller of the Currency (OCC) has again released its report on top risks facing banks, with its Spring 2017 analysis warning FIs that threats are coming from all angles. PYMNTS outlines some of those key trends found in the OCC report below. Shifts in Lending Practices. Cyber Threats.
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PYMNTS
APRIL 30, 2019
The Office of the Comptroller of the Currency (OCC) announced it has opened a 45-day public comment period on its proposed Innovation Pilot Program. Supporting a financial system that innovates responsibly is central to the mission of the OCC,” said Comptroller of the Currency Joseph M.
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PYMNTS
FEBRUARY 22, 2019
Office of the Comptroller of the Currency (OCC), over deficiencies that the OCC identified in the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program. The OCC identified the deficiencies in the bank’s branches in New York, Los Angeles and Chicago.
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PYMNTS
SEPTEMBER 22, 2020
The regulator of the nation’s banks has issued its first guidance on stablecoins , the cryptocurrency backed by traditional currency. . A letter by the Office of the Comptroller of the Currency (OCC) published on Monday (Sept. Allaire said this has been a long time coming.
Payments Source
SEPTEMBER 14, 2018
The state's banking regulator and the Conference of State Bank Supervisors are reviving litigation after the Office of the Comptroller of the Currency said it would accept charter applications.
PYMNTS
SEPTEMBER 24, 2020
Between the Office of the Comptroller of the Currency clearing the way for financial institutions (FIs) to embrace stablecoin, and The Clearing House's latest real-time payments (RTP) push, new payment rails continue to gain traction. OCC Clears Banks For Stablecoin. SatoshiPay Debuts Blockchain Payments Platform.
Finovate
APRIL 10, 2024
Office of the Comptroller of the Currency (OCC). Bunq withdrew its application earlier this year citing issues between Dutch regulators, the OCC, and the Federal Deposit Insurance Corporation (FDIC). To this end, the institution noted that it plans to resubmit its application for a banking license with the U.S.
PYMNTS
APRIL 25, 2017
The FinTech industry’s future could depend on the outcome of a fight between the Office of the Comptroller of the Currency (OCC) and states, according to a report in TechCrunch. The charter is optional for FinTechs and is aimed at providing a stamp of approval by the OCC for having good compliance practices.
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The Paypers
SEPTEMBER 13, 2021
The Office of the Comptroller of the Currency (OCC) has fined Wells Fargo with USD 250 million because of the issues related to stemming from the bank's mortgage loss modification practices.
Payments Source
AUGUST 23, 2017
The Office of the Comptroller of the Currency is seeking to scrap a challenge to its fintech charter by New York’s bank regulator.
PYMNTS
SEPTEMBER 13, 2018
banking watchdog the Office of the Comptroller of the Currency (OCC) is facing a lawsuit, adding another setback to its struggling effort to provide FinTechs with national banking licenses. It is unclear whether a lawsuit against the OCC would be filed before a company applies for the OCC’s charter.
40 
PYMNTS
MAY 21, 2020
Otting’s tenure saw the Office of the Comptroller of the Currency (OCC) rationalizing the capital and liquidity rules to help banks serve customers’ needs while remaining safe, the release states. Otting will be succeeded by First Deputy and Chief Operating Officer Brian P.
PYMNTS
JANUARY 7, 2021
The paper reported that the Office of the Comptroller of the Currency (OCC) is looking into business card sales tactics at the company as well, citing unnamed sources. Representatives of the Fed, FDIC and Treasury inspectors general offices would not comment on the matter, the paper reported.
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PYMNTS
JUNE 8, 2018
Wells Fargo was fined $185 million in 2016 for opening millions of potentially fake accounts, prompting the Office of the Comptroller of the Currency (OCC) to perform a months-long industry-wide review. However, the U.S. This included banks opening accounts without proof that consumers gave them permission to do so.
49 
Payments Source
FEBRUARY 16, 2017
Some fintech firms are flatly rejecting the Office of the Comptroller of the Currency's creation of a charter for such firms, citing fears that it will come with too many strings attached.
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