OCC – Page 2 – Regulatory Report

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[ May 24, 2019 ] FinCEN’s new Innovation Hours Program will facilitate demos of tech products, services to enhance BSA/AML efforts Other
[ May 24, 2019 ] Large banks would be ‘comfortable’ with 40% less reserve balances, survey finds The Fed
[ May 23, 2019 ] Three in four say they are ‘doing OK’ financially, Fed survey results find – but financial distress still exists The Fed
[ May 23, 2019 ] Federal savings associations with $20 billion or less prior to 2018 can elect to operate as ‘covered’ institutions under OCC rule OCC
[ May 23, 2019 ] OCC advisory panel on minority institutions meets June 12 in Dallas OCC

OCC slates workshops in KY June 4 and 5 on credit, compliance risk

May 2, 2019 0

Two workshops focusing on credit risk and compliance risk are slated June 4 and 5 in Kentucky for directors of national banks and federal savings associations (FSAs) supervised by the Office of the Comptroller of […]

With ‘Innovation Pilot,’ bank regulator will test novel activities – those, it says, that benefit consumers, business

May 1, 2019 0

An “Innovation Pilot Program” that will test novel or innovative products, services, processes and other activities by financial institutions was unveiled Tuesday by the regulator of national banks. The Office of the Comptroller of the […]

OCC highlights key issues for fiduciary activities ANPR in bulletin

April 29, 2019 0

Details of an advance notice of proposed rulemaking regarding potential revisions to fiduciary regulations for banks and federal savings associations (FSAs) are pulled out as highlights in a bulletin issued Monday by the Office of […]

Fiduciary Capacity; Non-Fiduciary Custody Activities

April 29, 2019 0

Title: Fiduciary Capacity; Non-Fiduciary Custody Activities Subject: Fiduciary activities Agency: OCC Status: Proposed rule Summary: The Office of the Comptroller of the Currency (OCC) is inviting comment on an advance notice of proposed rulemaking (ANPR) […]

Bank, credit union regulators testify May 15 before Senate Banking

April 26, 2019 0

While no banking regulators are slated to testify in Tuesday’s Senate Banking Committee hearing on federal banking agency regulation, those agencies, along with the federal regulator of credit unions, will each have witnesses before the […]

ANPR contemplates changes in OCC’s non-fiduciary custody rules

April 26, 2019 0

Possible changes to fiduciary activities rules of the Office of the Comptroller of the Currency (OCC) are laid out in an advance notice of proposed rulemaking (ANPR) that is out for public comment until June […]

OCC proposes update of ‘other real estate owned’ rules for national banks, savings associations

April 23, 2019 0

A proposal to clarify and streamline the regulation of banks’ other real estate owned (OREO) activities and update the OREO regulatory framework for federal savings associations (FSA) is being issued by the Office of the […]

OCC ‘Innovation Office Hours’ set for June in New York

April 23, 2019 0

One-on-one meetings with agency officials to discuss financial technology (fintech), new products or services, partnering with a bank or fintech, or other matters related to banking innovation are available June 11 to 12 in New […]

Other Real Estate Owned and Technical Amendments

April 23, 2019 0

Title: Other Real Estate Owned and Technical Amendments Subject: OREO Agency: OCC Status: Proposed rule Summary: The OCC is inviting comment on a proposed rule that would clarify and streamline its regulation on other real […]

Regulator seeks prohibition against former bank general counsel for concealing BSA/AML documents

April 19, 2019 0

A former general counsel of a California bank faces a $50,000 civil money penalty (CMP) and a prohibition from working in the banking industry, according to filings made by the regulator of national banks. The […]

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FinCEN’s new Innovation Hours Program will facilitate demos of tech products, services to enhance BSA/AML efforts

May 24, 2019 0

Treasury’s financial crimes unit on Friday announced a new program that will allow financial institutions, technology providers, and other firms involved in financial services the chance to present new, emerging innovative products and services and approaches designed to enhance anti-money [...]
Large banks would be ‘comfortable’ with 40% less reserve balances, survey finds

May 24, 2019 0

Large banks believe they could be holding much lower reserve balances – about 40% less – than they are holding now, largely because of the continued low-interest-rate environment, according to the results of a survey of senior financial officers released [...]
Three in four say they are ‘doing OK’ financially, Fed survey results find – but financial distress still exists

May 23, 2019 0

Three in four U.S. adults said in 2018 that, financially at least, they were “doing OK” or “living comfortably” – up 12 percentage points from 2013 – according to the results of a survey released Thursday by the Federal Reserve. [...]
Federal savings associations with $20 billion or less prior to 2018 can elect to operate as ‘covered’ institutions under OCC rule

May 23, 2019 0

Federal savings associations (FSAs) that had total consolidated assets of $20 billion or less as of Dec. 31, 2017, can elect to operate as “covered” savings associations and enjoy the same rights and privileges as a national bank under a [...]
OCC advisory panel on minority institutions meets June 12 in Dallas

May 23, 2019 0

A public meeting of the panel that advises the Office of the Comptroller of the Currency (OCC) on issues affecting minority depository institutions is set for 1 p.m. Central time in Dallas, the OCC announced Thursday. The Minority Depository Institutions [...]
Fed plans test operation of term deposit facility next week; ‘no implications for monetary policy’

May 23, 2019 0

One operation this month of the Term Deposit Facility (TDF) will be tested by the Federal Reserve, with the aim of ensuring its operational readiness and providing the institutions that may use it some degree of familiarity, the agency said [...]
More public unit and nonmember shares would be OK for credit unions under NCUA proposed rule

May 23, 2019 0

The basis for measuring the regulatory limit on nonmember and public unit shares that federally insured credit unions (FICUs) may hold would change – in many cases increasing the dollar amount that could be held – under a proposed rule [...]
Aids for credit union chartering, identifying low-income areas for service focus of CURE office at NCUA

May 23, 2019 0

The federal agency that charters and regulates federal credit unions says it’s planning to offer more resources for credit unions to identify low-income areas they might serve, and information for those seeking to charter a new credit union, through its [...]