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Office of the Comptroller of the Currency Related Topics 
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. According to the report, the banking regulator said the data breach had to do with a former employee at the agency removing more than 10,000 records without receiving authorization to do so.
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.
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 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.
Payments Dive
JANUARY 9, 2024
The Office of the Comptroller of the Currency directed its advice at national banks, but a Venable attorney expects others to use it to inform their approaches.
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.
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.
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.
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.
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.
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PYMNTS
JULY 5, 2020
Last year, four federal agencies, in conjunction with state bank regulators, clarified the legal status of hemp-related businesses and the applicable edicts under the Bank Secrecy Act for financial institutions offering services to those businesses, the Office of the Comptroller of the Currency.
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Payments Dive
APRIL 25, 2022
The Office of the Comptroller of the Currency said the bank — the first crypto firm to receive a national trust bank charter in January 2021 — must overhaul its anti-money laundering program after failing to implement internal controls for customer due diligence and procedures for monitoring suspicious activity.
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
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. Plus, Mesh Payments has launched a cardless payment offering that makes recurring and one-time payments easier.
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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. This week's look at the latest innovation initiatives finds a big push for the latter.
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 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.
PYMNTS
DECEMBER 7, 2020
Office of the Comptroller of the Currency for its application for a national bank charter. It has also begun work in stock trading and cash management accounts. In October, SoFi said it had received preliminary and conditional approval from the U.S.
PYMNTS
NOVEMBER 19, 2020
And recently, the Office of the Comptroller of the Currency said national banks and federal savings associations could hold reserves for customers who issue stablecoins. In late October, the payments giant was also reportedly considering buying some cryptocurrency companies.
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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.
Finextra
DECEMBER 4, 2024
The Board of Governors of the Federal Reserve System (FRB), Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Financial Crimes Enforcement Network (FinCEN), National Credit Union Administration (NCUA), Office of the Comptroller of the Currency (OCC), and state financial regulators issued a joint statement this (..)
Payments Source
SEPTEMBER 19, 2018
The Office of the Comptroller of the Currency has been taking the lead on a federal license for fintech firms, but the central bank will decide if such companies can access the payments system and other benefits.
PYMNTS
SEPTEMBER 20, 2020
The news comes after the recent decision by the Office of the Comptroller of the Currency (OCC) to let banks offer crypto services. It is designed to settle payments within seconds, and to work with multiple assets and asset classes, unlike previous incarnations, according to the release.
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.
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.
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.
PYMNTS
SEPTEMBER 21, 2020
The Office of the Comptroller of the Currency (OCC) released a letter that explained the authority of federal savings associations and national banks to keep “reserves” for clients who are issuers of stablecoins in some cases, according to a Monday (Sept. Acting Comptroller of the Currency Brian P.
PYMNTS
MAY 11, 2020
Office of the Comptroller of the Currency (OCC) Chief Operating Officer Brian Brooks said he thinks digital currency firms could go under a federal licensing program in the event they offer what could be called payment services, CoinDesk reported.
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. 7), citing unnamed sources. A representative for AmEx told WSJ, “We have robust compliance policies and controls in place, and do not tolerate misconduct.”
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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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PYMNTS
FEBRUARY 28, 2020
The company has made its intentions known by filing applications with the Office of the Comptroller of the Currency. Capital One is going to increase its focus on digitization and close 37 branches around the U.S., according to a report by Yahoo Finance.
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. . The two units will consolidate bank supervision support, risk analysis, and oversight of national trust banks and important service providers.
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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. The Office of the Comptroller of the Currency (OCC) has put forward a personal banking rule meant to level the playing field.
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PYMNTS
SEPTEMBER 30, 2020
The House committee held a hearing on the idea after Acting Comptroller of the Currency Brian Brooks in July proposed a new special purpose national banking charter for payments companies.
PYMNTS
OCTOBER 26, 2018
More legal troubles have emerged for the Office of the Comptroller of the Currency (OCC) over its plan to introduce national bank charters for FinTechs, aimed at making it easier for alternative financial services players to do business. State Bank Regs File Suit t o Block OCC’s Bank Charter.
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
MARCH 30, 2020
and the Office of the Comptroller of the Currency — are all on board with using the “new methodology for measuring counterparty credit risk in derivatives transactions.”. Financial institutions now have two more years before converting to CECL. National bank regulators — The Federal Reserve, Federal Deposit Insurance Corp.
PYMNTS
NOVEMBER 1, 2020
Acting Comptroller Brian Brooks , speaking on a podcast recently, said banks in the U.S. were exploring ways to adopt crypto after the Office of the Comptroller of the Currency (OCC) made a decision over the summer letting banks provide custody of crypto.
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.
PYMNTS
APRIL 24, 2020
Office of the Comptroller of the Currency for a banking license. Monzo Bank Ltd., the British digital bank, has taken the next step to expand into the U.S. market, where it has already done some testing. The five-year-old London-based startup, which has 4 million customers in the United Kingdom, has applied to the U.S.
PYMNTS
MAY 17, 2018
The bank reportedly has told the federal Office of the Comptroller of the Currency about the problem in the wholesale unit. “The employees were also working to get documents in order prior to new requirements from another regulator for disclosures related to proof of beneficial ownership of businesses.”.
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
PYMNTS
MARCH 29, 2020
National Credit Union Administration and Office of the Comptroller of the Currency — have asked lenders to extend loans to individuals and small businesses.
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