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OCC restructures organization

Finextra

The Office of the Comptroller of the Currency (OCC) today announced changes to its organizational structure to ensure its approach to supervision evolves to better address todays challenges, align similar functions within the agency, and leverage opportunities for efficiencies.

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Bitcoin Daily: US National Banks To Hold Reserve Currencies For Stablecoins; Stripe To Pay Massachusetts $120K In PlexCoin ICO Role

PYMNTS

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.

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Processors lean on AI to fight fraud

Payments Dive

A few days after the senators’ announcement, the Federal Reserve Board, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency said they would seek to better address payments fraud. Sign up A valid email address is required. Sign up A valid email address is required.

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Wells Fargo Accused Of Manipulating Business Banking Data

PYMNTS

Rather, employees in the bank’s wholesale unit reportedly added or altered, without customer knowledge, information that ranged from “social security numbers to addresses to dates of birth for people associated with business-banking clients,” the report said. The bank’s shares were down about 1.8 percent by late Thursday afternoon.

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FinCEN Files Show Banks’ ‘Whack-a-Mole’ Battle Against KYC/AML

PYMNTS

Separately, last month, five federal regulatory agencies – including the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the Financial Crimes Enforcement Network (FinCEN), the National Credit Union Administration (NCUA) and the Office of the Comptroller of the Currency (OCC) – issued a joint statement designed to address questions (..)

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Congress Blasts Former Wells Fargo Bosses Over Resignations

PYMNTS

Officials at the Consumer Financial Protection Bureau (CFPB) included Duke on letters about things the bank needed to address. The report also said investigations showed that the “attitudes and failures on the part of Ms. Duke and Mr. Quigley” were alarming. .

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TD Bank Group Announces Resolution of AML Investigations

Fintech Finance

Plans are in place to address the requirements and limitations contained in the consent orders, including adjustments to the Bank’s U.S. The Board has and continues to take action to address these failures and hold those responsible accountable. Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) compliance programs.

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