Page 81 - Acting Comptroller News Today

Federal Register to “allow the next confirmed Comptroller of the Currency to review the final rule and the public comments the OCC received, as part of an orderly transition.” The final rule is intended to codify the principle that a bank’s decision not to serve a particular customer should be based on an individual risk management decision about that individual customer, not on the fact that the customer operates in an industry subject to a broad categorical exclusion created by the bank...

Sunshine Act Meeting; Notice of Meeting To Be Held With Less Than Seven Days Advance Notice Federal Deposit Insurance Corporation Documents & Publications TIME AND DATE: Tuesday, January 19, 2021. PLACE:The meeting was held via video conference on the internet and was webcast to the public. MATTERS TO BE CONSIDERED:Pursuant to the provisions of the Government in the Sunshine Act, notice is hereby given that the Federal Deposit Insurance Corporations Board of Directors met in open session at 1...

On January 20, President Biden’s Chief of Staff Ronald Klain issued a memorandum to the heads of executive departments and agencies setting forth the terms of a regulatory freeze. The memorandum requires the following subject to limited exceptions: No rules can be issued or proposed until a department or agency head appointed by President Biden has reviewed and approved the rule. A rule that has been sent to the Federal Register but not yet published must be immediately withdrawn from the O...

To embed, copy and paste the code into your website or blog: As part of the Office of the Comptroller of the Currency’s (OCC) declared effort[1] to keep pace with a mounting demand for faster, cheaper, and more efficient payments, and the widespread adoption of new technologies, the agency’s Senior Deputy Comptroller & Chief Counsel issued an interpretive letter on January 4, 2021 (the “Interpretive Letter”) clarifying the permissibility of independent node verification networks (INVNs)...

Finalization of the Office of the Comptroller of the Currency’s (OCC) rule to end discrimination by financial service providers against the firearm industry

U.S. Senator Kevin Cramer (R-ND), a member of the Senate Banking Committee, issued the following statement on the U.S. Department of Treasury’s Office of the Comptroller of the Currency (OCC) finalizing a rule today to address the issue of bank discrimination: “Fairness matters. Discrimination is not allowed in our society and big banks should not be an exception. No matter

The OCC has issued a final rule establishing standards that a bank must follow in fulfilling its obligation to provide fair access to financial services.  The final rule is effective on April 1, 2021. The final rule was issued on the same day that Acting Comptroller of the Currency Brian Brooks stepped down at the OCC.  Critics of the OCC’s proposal included banking trade groups as well as consumer advocates. Given that the proposal was characterized by Democratic lawmakers as an effor...

OCC: Acting Comptroller of the Currency Brian P. Brook Steps Down Acting Comptroller of the Currency Brian P. Brooks will step down from the Office of the Comptroller of the Currency (OCC) on January 14, 2021. OCC Chief Operating Officer Blake Paulson will become Acting Comptroller of the Currency, according to a statement by the bank regulator. Brooks issued the following statement: “It has been a great honor to serve the United States as Acting Comptroller of the Currency. The Office of ...

Press Releases SKILLICORN Technologies announces the launch of their Los Fresnos Project Regulation CF Offering on the InfraShares crowdfunding platform. This Regulation CF offering isseeking front-end financing for theLos Fresnos Project. For a minimum ... NanoVMs Launches Investment Round On StartEngine NanoVMs, the unikernel infrastructurecompany that runs software faster andsafer than Linux has launched aninvesting campaign with StartEngine.The startup has already raised over ... Wallet F...

To embed, copy and paste the code into your website or blog: The CFPB’s Taskforce on Federal Consumer Financial Law released its report making recommendations on how to improve consumer protection in the financial marketplace. The CFPB created the Taskforce in October 2019 to examine ways to harmonize and modernize federal consumer financial laws.  The Taskforce was charged with examining the existing legal and regulatory environment for consumers and financial services providers and making ...