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Bank Automation
MARCH 18, 2025
SmartBiz, a fintech providing loans to small and medium-sized businesses, has completed its acquisition of United Community Bancsharesand its subsidiary, Centrust Bank.
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.
PYMNTS
JANUARY 7, 2021
Officials at the Federal Reserve, the Federal Deposit Insurance Corp. 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. 7), citing unnamed sources.
97 
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 (..)
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. However, the banking industry doesn’t like that one bit. “We
PYMNTS
MARCH 30, 2020
National bank regulators — The Federal Reserve, Federal Deposit Insurance Corp. 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.”.
PYMNTS
JANUARY 24, 2020
The Department of Justice is investigating if executives kept important details about the fake accounts from the bank’s board of directors, as well as the Office of the Comptroller of the Currency (OCC). Wells Fargo also has to repay customers for what it cost them by abusing some of them.
72 
The Paypers
APRIL 22, 2025
Capital One has received the final regulatory approval for its proposed acquisition of Discover Financial Services , following authorisation from the Federal Reserve Board and the Office of the Comptroller of the Currency.
PYMNTS
DECEMBER 24, 2020
Office of the Comptroller of the Currency announced that banks could hold reserves on behalf of customers who issue stablecoins — which are, of course, a form of crypto but are pegged to an underlying asset such as a dollar. Over the summer, the U.S.
103 
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
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 bank has agreed to a $1 billion settlement with two of its regulators and has absorbed Federal Reserve sanctions. The bank’s shares were down about 1.8
PYMNTS
SEPTEMBER 21, 2020
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 (..)
139 
PYMNTS
JANUARY 11, 2019
Federal Reserve said in a statement. While the effects of the federal government shutdown on individuals should be temporary, affected borrowers may face a temporary hardship in making payments on debts such as mortgages, student loans, car loans, business loans or credit cards,” the central bank said. On Thursday (Jan.
55 
PYMNTS
AUGUST 3, 2020
That blog post, Long pointed out, was published the same day that the Office of the Comptroller of the Currency (OCC) released an interpretive letter that offered guidance on banks’ and federal savings associations’ ability to provide crypto custody services.
PYMNTS
DECEMBER 10, 2018
There may also be a new federal requirement for companies to disclose beneficial owners upon a company’s incorporation.
69 
PYMNTS
MARCH 28, 2018
Williams, the president of the Federal Reserve Bank of San Francisco, is reportedly being tapped to replace the retiring president of the New York Fed, but at least one watchdog has problem with that. The Federal Reserve in San Francisco is in charge of supervising the financial institution.
46 
PYMNTS
MARCH 19, 2020
The regulators also let banks know their position on using reserves and buffers during times of stress in the market, and whether that would lead to future penalizations. Regulators, for their part, said they want to encourage lending.
Fintech Finance
OCTOBER 11, 2024
Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) compliance programs. The Bank and certain of its U.S.
98 
PYMNTS
JANUARY 24, 2020
The Department of Justice is investigating if executives kept important details about the fake accounts from the bank’s board of directors, as well as the Office of the Comptroller of the Currency (OCC). Wells Fargo also has to repay customers for what it cost them by abusing some of them.
PYMNTS
NOVEMBER 4, 2020
In September, the Office of the Comptroller of the Currency (OCC) clarified the authority for national banks and federal savings associations to hold reserves on behalf of customers who issue stablecoins (those coins have to have a one-to-one relationship with a fiat currency).
83 
PYMNTS
MARCH 9, 2020
Waters said the two also did not follow legal orders with the Consumer Financial Protection Bureau (CFPB), Federal Reserve Board and Office of the Comptroller of the Currency (OCC). They said improved oversight was necessary in order to avoid penalties and federal monitoring. .
PYMNTS
DECEMBER 3, 2019
The Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), FinCEN , the OCC and the Conference of State Bank Supervisors participated in issuing the definitions and guidelines. Banks no longer have to submit a suspicious activity report (SAR) just because a business is growing or cultivating hemp.
PYMNTS
MARCH 29, 2019
The Office of the Comptroller of the Currency (OCC) also weighed in, stating that — after Sloan testified — it was “disappointed” over the lack of effective corporate governance and risk management. Waters, for her part, said a bill would be in the offing to break up banks that have not done right by their customers.
PYMNTS
JUNE 17, 2019
When examining a bank’s credit risks, regulators take a cooperative approach that involves the Federal Reserve, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, which work under the Shared National Credit Review. Cybersecurity regulators want a similar approach. “At
PYMNTS
MARCH 26, 2018
Wells Fargo, weeks after it was hit with a rare enforcement action from the Federal Reserve, is overhauling its risk management processes and announced internally that four top risk management executives would be retiring. Its expected to include a civil penalty stemming from the risk controls at the company, noted the report.
PYMNTS
AUGUST 7, 2019
Regulatory efforts through the Office of the Comptroller of the Currency aim to connect FinTechs with the opportunity to apply for a national bank charter, an initiative that has been met with criticism and legal action. For instance, in the U.K., Meanwhile, in the U.S., the emergence of new banks is few and far between.
PYMNTS
DECEMBER 6, 2018
Citing people familiar with the matter, the Wall Street Journal reported that senior executives, including consumer banking head Mary Mack, have briefed the Office of the Comptroller of the Currency (OCC) on the firings. A Wells Fargo spokeswoman — as well as an OCC spokesman — declined to comment on the report.
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 bank has agreed to a $1 billion settlement with two of its regulators, and has absorbed Federal Reserve sanction. The bank’s shares were down about 1.8
PYMNTS
JANUARY 13, 2021
The Federal Reserve, the Federal Deposit Insurance Corp. Other sources said the Office of the Comptroller of the Currency (OCC) is also looking into the matter. Anecdotally, small businesses' credit card debt could be on the rise as more business owners turn to cards to keep their businesses afloat.
PYMNTS
JANUARY 15, 2019
14) that the Federal Reserve, the U.S. 14) that the Federal Reserve, the U.S. As has been reported, the regulators include the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp., Reuters reported early Monday (Jan. Reuters reported early Monday (Jan.
59 
PYMNTS
JANUARY 25, 2019
For big bank loans taken out before April of 2018, prospects of repayment are good, federal banking regulators said on Friday (Jan. However, the portion of loans owed by strongly leveraged borrowers is still high. Reuters reported that the U.S.
43 
PYMNTS
MARCH 30, 2017
Santander has also created an Officer of Consumer Practices to ensure that customers are treated fairly. Earlier this year, the Office of the Comptroller of the Currency downgraded Santander’s rating in community lending. Recently, new policies have been put in place to identify deal misconduct.
PYMNTS
MAY 19, 2016
In the event that a financial institution fails to keep pace with the regulations that are put in place, it can be found liable and subject to action from one of the five agencies, a roster that includes, beyond the CFPB, the Federal Deposit Insurance Corp., million penalty tied to those violations.
40 
PYMNTS
MARCH 2, 2018
According to a report in American Banker , Mulvaney’s comments suggest that regulators –including the Office of the Comptroller of the Currency and the Federal Reserve Board – could have more of a role in supervising matters of compliance related to consumers.
PYMNTS
OCTOBER 6, 2016
The senators expressed particular concern with the “excessive level of discretion” granted to firms in executing clawbacks for misconduct, fraud or misrepresentation in a proposed rule issued in May by the Federal Reserve, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, National Credit Union Administration, Federal (..)
PYMNTS
DECEMBER 18, 2018
That’s in part because several federal agencies recently have come out — together — in support of banks embracing innovation in their compliance efforts.
61 
PYMNTS
JUNE 24, 2019
There is some precedent here, as in assessing credit risk, regulators spanning the Federal Reserve, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency work together through the Shared National Credit Program.
PYMNTS
NOVEMBER 27, 2017
Federal and state officials have been investigating whether the GAP insurance is unnecessary, and whether interest rates on the loans increased too much as a result of the GAP protection. The Office of the Comptroller of the Currency (OCC) is looking into Wells Fargo’s auto loans business as well. .
40 
PYMNTS
JULY 19, 2018
In April, the bank settled with the CFPB and the Office of the Comptroller of the Currency, getting slapped with a $1 billion fine for its lack of risk management.
PYMNTS
NOVEMBER 23, 2017
22) report by American Banker , New York Venture Bank, which will be headquartered in New York, needs the nod of the Office of the Comptroller of the Currency (OCC) before it can launch operations. Citing documents filed with the Federal Deposit Insurance Corp. According to a Wednesday (Nov.
PYMNTS
FEBRUARY 19, 2019
banking industry is in flux, largely thanks to federal policy that has made it easier (and faster) for institutions to merge. As concerns are raised about how industry consolidation might impact competition, Federal Reserve Chairman Jerome Powell is warning that it could hinder small businesses’ access to capital and financial services.
43 PYMNTS
MAY 25, 2016
Three bodies — the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation — issued joint guidance in 2013 that recommended FIs not provide loans to businesses that would push their corporate debt levels above six times their earnings.
PYMNTS
MARCH 26, 2020
In a joint statement issued on Thursday (March 26), the Federal Reserve’s Board of Governors, Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corp.
PYMNTS
DECEMBER 14, 2018
News came earlier in the month that several federal agencies have come out — together — in support of banks embracing innovation in their compliance efforts.
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