On Feb. 23, 2023, the Board of Governors of the Federal Reserve System (Federal Reserve), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) (collectively
Continue Reading Federal Reserve, FDIC, and OCC Issue 2nd Joint Statement Highlighting Liquidity Risks to Banks Engaged in Crypto-Asset-Related Activities
On Jan. 3, 2023, the Board of Governors of the Federal Reserve System (Federal Reserve), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) (collectively
Continue Reading Federal Reserve, FDIC, and OCC Issue the First Joint Statement on Crypto-Asset Risks to Banking Organizations
On Sept. 21, 2020, the Office of the Comptroller of the Currency (the OCC) issued guidance pertaining to whether national banks could hold stablecoin reserves. That same day, the Securities
Continue Reading The OCC and SEC’s FinHub Issue Guidance on Fiat-Backed Stablecoin Reserves
On June 25, 2020, the Federal Deposit Insurance Corporation (FDIC) issued a final rule that attempts to resolve the legal uncertainty created by the 2015 holding of the U.S. Court
Continue Reading FDIC Follows OCC Lead in Attempt to Clarify Madden Uncertainty
On May 20, 2020, the Office of the Comptroller of the Currency (OCC), which regulates national banks, released a Final Rule intended to strengthen and modernize the implementation of the
On Sunday night, March 22, 2020, the federal banking agencies (OCC, FDIC, NCUA, Federal Reserve), the Consumer Financial Protection Bureau and the State Conference of Bank Supervisors issued an Interagency
Continue Reading Interagency Guidance for Financial Institutions on Coronavirus Disease-Related Loan Modifications
In his proposed budget for fiscal year 2017-2018, New York Governor Andrew Cuomo advanced changes to the New York Banking Law that would give the Department of Financial Services (NY
Continue Reading NY Governor’s Proposed Budget Forecasts Increased Regulation of Fintech
On Dec. 2, 2016, the Office of the Comptroller of the Currency (OCC) published a preliminary proposal to create a national bank charter for financial technology companies (fintech). The OCC’s
Continue Reading OCC Consideration of Special Purpose Fintech Charters Draws Rapid Reaction for State Banking Regulators
Recently, the OCC has begun to lay the groundwork for future national fintech charters, relying on an existing federal law which grants the OCC receivership powers over non-depositary financial institutions,
Continue Reading OCC Lays Groundwork for National Fintech Charters
On June 23, 2016 the Office of the Comptroller of the Currency (OCC) hosted the Forum on Responsible Innovation in the Federal Banking System in Washington, D.C. Hundreds of industry
Continue Reading OCC Forum on Responsible Innovation