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. In other news, South Korea intends to levy a two-tenths tax on income made via digital currency transactions, The Block reported.

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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.

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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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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.

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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.

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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. The clarity of being regulated by the oldest regulator for banks in the United States … sends a very clear message.”.

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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.

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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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OCC Office of the Comptroller of the Currency Innovation Regulations 51

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). ” That said, it has not been easy for financial institutions outside the U.S.

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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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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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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.

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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.

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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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Fintech Finance

OCTOBER 11, 2024

TD Bank Group (“TD” or the “Bank”) (TSX: TD) (NYSE: TD) today announced that, following several years of active cooperation and engagement with authorities and regulators, it has reached a resolution of previously disclosed investigations related to its U.S. The Bank and certain of its U.S. “Our U.S.

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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.

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The Paypers

JUNE 8, 2020

The Office of the Comptroller of the Currency (OCC) has been seeking public input on how it regulates new technologies and digital banking activities, including cryptocurrencies and blockchain tools.

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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.

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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 5, 2016

The Office of the Comptroller of the Currency's plan to offer a national charter for fintech firms immediately sparked a battle between consumer advocates and state regulators, who see it a dangerous move, and fintech firms and certain banks, which hailed it as the future.

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PYMNTS

JANUARY 23, 2020

The Office of the Comptroller of the Currency (OCC) said that there will also be a number of other individuals selected for punishment involving the fake accounts scandal, including other executives at the bank. He will also have to pay $17.5

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PYMNTS

JUNE 6, 2018

After reviewing sales practices at more than 40 large and mid-sized banks, the Office of the Comptroller of the Currency (OCC) found multiple systemic issues, along with hundreds of problems at individual banks. This has hit home for the C-suite and the boards of the major banks,” Ryan told American Banker. “No

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PYMNTS

MAY 29, 2017

but experts are beginning to question how it will impact regulation. Reports in Reuters on Friday (May 26) explored how industry players are examining the future of financial regulation as FinTech continues its disruption. The OCC also issued a draft licensing manual last March to help some FinTechs obtain a limited banking license.

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The Paypers

APRIL 25, 2022

Stablecoin issuer Circle has announced it is in discussions with US regulators to become the fourth crypto-native company to open a federal trust charter through the Office of the Comptroller of the Currency (OCC).

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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.

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PYMNTS

APRIL 10, 2017

The lead regulator for U.S. banks, the Office of the Comptroller of the Currency, removed Wells Fargo’s most senior bank examiner, people familiar with the matter told Reuters. Notably, most of the cases referred to by the OCC had already been announced and, in some cases, were over a decade old.

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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. The guidance did not change any regulation, but clarified the regulator’s stance on the loans, Reuters reported.

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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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PYMNTS

APRIL 20, 2018

I am especially pleased that we were able to work closely and effectively with our colleagues at the OCC, and I appreciate the key role they played in the negotiations,” Consumer Financial Protection Bureau Acting Director Mick Mulvaney said in a statement. “As

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PYMNTS

DECEMBER 10, 2018

Separately, but still within the scope of efforts from the Federal Reserve and the OCC, along with the FDIC, the agencies last week released a proposal that would increase the threshold of real estate transactions that require appraisal from $250,000 to $400,000.

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PYMNTS

JANUARY 23, 2020

The Office of the Comptroller of the Currency (OCC) said that there will also be a number of other individuals selected for punishment involving the fake accounts scandal, including other executives at the bank. He will also have to pay $17.5

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Office of the Comptroller of the Currency OCC Community Banks Regulations 54

PYMNTS

MAY 29, 2018

Banks, faced with low business growth and fierce competition in the industry, are offering business loans with sweeter terms, which is worrying some regulators. The WSJ pointed to a report from The Office of the Comptroller of the Currency (OCC), which referred to an easing of commercial loan standards as a leading risk to the industry.

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Regulations Office of the Comptroller of the Currency OCC Risk 40

PYMNTS

JANUARY 25, 2019

For big bank loans taken out before April of 2018, prospects of repayment are good, federal banking regulators said on Friday (Jan. However, the portion of loans owed by strongly leveraged borrowers is still high. Reuters reported that the U.S.

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PYMNTS

APRIL 20, 2017

While much attention has been paid to Wells’ behavior, today a new player is in the spotlight — Wells Fargo’s regulator the Office of the Comptroller of Currency — with questions about why it didn’t act sooner when complaints about the bank began to roll in.

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PYMNTS

JANUARY 24, 2020

The Department of Justice is investigating if executives kept important details about the fake accounts from the bank’s board of directors, as well as the Office of the Comptroller of the Currency (OCC). In addition, the Department of Labor is looking into the bank over how it reacted to whistleblower complaints.

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PYMNTS

SEPTEMBER 30, 2020

Overseen by the Office of the Comptroller of the Currency (OCC), the charter would allow firms like Facebook, Google or Amazon to bypass the process by which they need to collect money transmitter licenses state by state. This isn’t the OCC’s first attempt to create a special banking charter that would benefit tech firms.

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