OCC latest US regulator to give banks crypto freedom
Finextra
MAY 8, 2025
The Office of the Comptroller of the Currency (OCC) today clarified permissible bank activities related to crypto-asset custody and execution services.
AFC Writes to OCC: Partnerships and Regulatory Clarity Key For Community Banks to Take the Next Step
The Fintech Times
JULY 4, 2025
In early May, the OCC issued an RFI on the key challenges and barriers faced by community banks in the adoption and implementation of digital banking solutions. The post AFC Writes to OCC: Partnerships and Regulatory Clarity Key For Community Banks to Take the Next Step appeared first on The Fintech Times.
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Fintech acquires bank to gain banking charter license
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.
Circle applies for national trust bank status
Finextra
JULY 1, 2025
The company has formally submitted an application to the Office of the Comptroller of the Currency (OCC) to establish the new trust institution, which will operate under the name First National Digital Currency Bank, N.A.
Elevating Credit Processes with AI: Experian Assistant for Model Risk Management
Trade Credit & Liquidity Management
AUGUST 1, 2025
Federal Reserve and the Office of the Comptroller of the Currency (OCC) that sets out regulatory expectations for model risk management (MRM) in financial institutions. Their streamlined, AI-powered platform empowers organizations to better trust their models, add real value, and innovate faster.
Paxos applies for national trust charter
Finextra
AUGUST 11, 2025
Paxos has filed to convert its New York Department of Financial Services trust charter into a national trust charter under the supervision of the Office of the Comptroller of the Currency. Paxos applies for national trust charter Paxo has become the latest digital asset player to apply for a US national trust bank charter.
US banks cleared to handle crypto custody and trading
The Paypers
MAY 9, 2025
The US Office of the Comptroller of the Currency (OCC) has clarified that banks under its supervision are allowed to engage in crypto-related activities on behalf of customers.
US banks cleared to handle crypto custody and trading
The Paypers
MAY 9, 2025
The US Office of the Comptroller of the Currency (OCC) has clarified that banks under its supervision are allowed to engage in crypto-related activities on behalf of customers.
Senate confirms Jonathan Gould as Comptroller of the Currency
Bank Automation
JULY 11, 2025
The US Senate confirmed Jonathan Gould to lead the Office of the Comptroller of the Currency, adding him to the roster of Trump administration officials who favor lighter regulation of the nation’s lenders and an embrace of crypto assets.
OCC seeks to halt Illinois card interchange fee law
Payments Dive
OCTOBER 3, 2024
The Office of the Comptroller of the Currency blasted an Illinois law that prohibits credit and debit card interchange fees on tips and excise taxes.
Office Of The Comptroller Of The Currency Disclosed A Data Breach
PYMNTS
OCTOBER 31, 2016
The Office of the Comptroller of the Currency (OCC) disclosed it was hacked in September, reported The Wall Street Journal last week. WSJ cited an OCC spokesman as saying the data included information “related to OCC activities and employees.” The incident occurred in Nov.
Two cryptocurrency firms seek OCC approval to charter trust banks
Payments Source
DECEMBER 10, 2020
BitPay and Paxos are only the latest digital currency companies to pursue a national charter from the Office of the Comptroller of the Currency.
OCC withdraws policy on bank engagement with cryptocurrency
Finextra
MARCH 10, 2025
The Office of the Comptroller of the Currency (OCC) today took action to reaffirm that a range of cryptocurrency activities are permissible in the federal banking system.
Office of the Comptroller of the Currency Amicus Brief Opposing Illinois Credit Card Law
Electronic Payments Coalition
OCTOBER 3, 2024
In a court filing late on October 2nd, the Office of the Comptroller of the Currency (OCC) blasted the first-of-its kind Illinois law as an “ill-conceived, highly unusual, and largely unworkable state law that threatens to fragment and disrupt” the nation’s banking system.
OCC reports 'major incident ' email hack to Congress
Finextra
APRIL 8, 2025
The Office of the Comptroller of the Currency says "highly sensitive information" was accessed in a hack on its email system.
Major US banks dial down information sharing with OCC after email hack
Finextra
APRIL 15, 2025
JPMorgan Chase and Bank of New York Mellon have reportedly scaled back electronic information sharing with the Office of the Comptroller of the Currency (OCC) following a significant breach of the regulators email system.
Could OCC's payments charter face the same fate as its fintech charter?
Payments Source
JUNE 15, 2020
The Office of the Comptroller of the Currency has endured a fairly choppy legal ride since unveiling its idea five years ago to establish a special charter for non-bank fintech companies to access a nationwide financial system for lending services without worrying about being licensed to do so in all 50 states.
National banks may process stablecoin payments, OCC says
Payments Source
JANUARY 5, 2021
The digital currency and related distributed-ledger technologies could "enhance the efficiency, effectiveness and stability of the provision of payments," according to an interpretive letter issued by the Office of the Comptroller of the Currency.
OCC grants new charter to fintech firms—with strings attached
Payments Source
DECEMBER 2, 2016
The Office of the Comptroller of the Currency will start granting limited-purpose bank charters to fintech companies, but intends to maintain high standards for new entrants.
OCC Finalizes Long-Held Rule On Banking Equality
PYMNTS
JANUARY 15, 2021
The Office of the Comptroller of the Currency (OCC) released a finalized rule on ensuring fair access to banking services from large national banks, federal savings associations, and federal branches and agencies of foreign bank organizations, according to a press release.
OCC warns banks on BNPL lending
Finextra
DECEMBER 7, 2023
The Office of the Comptroller of the Currency (OCC) has issued guidance to US banks warning them to make sure that buy now, pay later loans are offered in a "safe and sound" manner.
Countering OCC, states announce streamlined payments exams
Payments Source
SEPTEMBER 15, 2020
With the Office of the Comptroller of the Currency considering a special charter for payments firms, a state regulator group said large money transmitters can opt for the “one company, one exam” program next year.
Federal Banks, Savings Associations Win Approval For Some Crypto Activities
PYMNTS
SEPTEMBER 22, 2020
The regulator of the nation’s banks has issued its first guidance on stablecoins , the cryptocurrency backed by traditional currency. . A letter by the Office of the Comptroller of the Currency (OCC) published on Monday (Sept. Allaire said this has been a long time coming.
Today In Digital-First Banking: OCC Issues Stablecoin Guidance For Banks; Deutsche Bank, PNC Plan Branch Closures
PYMNTS
SEPTEMBER 23, 2020
In today’s top news in digital-first banking, the Office of the Comptroller of the Currency (OCC) has issued stablecoin guidance, and Deutsche Bank intends to decrease the size of its brick-and-mortar footprint. A letter by the OCC published on Monday (Sept.
OCC restructures organization
Finextra
APRIL 17, 2025
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.
OCC endorses SmartBiz takeover of CenTrust Bank
Finextra
MARCH 18, 2025
The Office of the Comptroller of the Currency (OCC) today announced conditional approval of the application for financial technology (fintech) company SmartBiz Loans to change the business model of CenTrust Bank, N.A., Northbrook, Illinois, upon its acquisition of CenTrust Bank, N.A.
OCC Realigns With Two New Units For Bank Oversight
PYMNTS
JULY 31, 2019
The Office of the Comptroller of the Currency (OCC) has announced that it’s going to realign about 150 staff members in two new units, the organization said in a press release. . Deputy Comptroller for Supervision Risk Management Bob Phelps has been chosen to run the new unit. .
OCC withdraws principles or climate-related financial risk management for large FIs
Finextra
MARCH 31, 2025
The Office of the Comptroller of the Currency (OCC) today withdrew its participation in the interagency principles for climate-related financial risk management for large financial institutions.
Bitcoin Daily: OCC: US National Banks Can Hold Digital Assets; S. Korea Eyes 20 Pct Tax On Crypto Trading
PYMNTS
JULY 22, 2020
Banks chartered by the federal government can offer digital currency custody services, the Office of the Comptroller of the Currency (OCC) said in a Wednesday (July 22) announcement.
OCC Calls For Equal Access To Banking Services
PYMNTS
NOVEMBER 23, 2020
The Office of the Comptroller of the Currency ( OCC ) has proposed personal banking regulations intended to level the playing field. . The proposal would systemize over 10 years of OCC guidance, asking banks to extend services based on individual risk assessment instead of category-based assessment.
OCC hits Bank of America with cease and desist order over sanctions screening violations
Finextra
JANUARY 8, 2025
The Office of the Comptroller of the Currency (OCC) today issued a cease-and-desist order (order) against Bank of America, N.A. bank) for deficiencies related to its Bank Secrecy Act (BSA) and sanctions compliance programs.
OCC: Banks Face Higher Compliance Risks Due To Pandemic
PYMNTS
JULY 1, 2020
The Office of the Comptroller of the Currency (OCC) said in a report this week that it will examine how the coronavirus is impacting compliance by financial institutions (FIs). The pandemic has heightened risks for pretty much everyone, including U.S.
Today In Payments: Biden Expected To Name Michael Barr To Head OCC; Biden’s Treasury Pick Yellen Leary Of Crypto
PYMNTS
JANUARY 21, 2021
In today’s top news, President Biden is expected to pick Michael Barr to head the OCC, and Janet Yellen, Biden’s pick for Treasury Secretary, is expected to take a hard stance toward crypto. Biden Expected To Name Professor Michael Barr To Head OCC. Plus, the chief of the CFPB stepped down at Biden’s request.
AmEx Faces Fed Inquiry On Business Card Sales Tactics
PYMNTS
JANUARY 7, 2021
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. Representatives of the Fed, FDIC and Treasury inspectors general offices would not comment on the matter, the paper reported.
How regulators besides the OCC can help fintechs
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.
Free ride or firm hand? Bankers split on OCC's fintech charter
Payments Source
DECEMBER 5, 2016
The Office of the Comptroller of the Currency's plan to offer a national charter for fintech firms immediately sparked a battle between consumer advocates and state regulators, who see it a dangerous move, and fintech firms and certain banks, which hailed it as the future.
OCC Prepares Civil Suit Against Former Wells Fargo Executives
PYMNTS
JANUARY 23, 2020
The Office of the Comptroller of the Currency (OCC) is putting together “so-called notices of charges” against 10 people, although settlements could be extended to some, the sources said. An OCC spokesman declined to comment, as did representatives for Tolstedt, Hardison and Julian.
N.Y. state refiles suit to block OCC's 'reckless' fintech charter
Payments Source
SEPTEMBER 14, 2018
The state's banking regulator and the Conference of State Bank Supervisors are reviving litigation after the Office of the Comptroller of the Currency said it would accept charter applications.
Banks, FinTechs Dive Into New Payment Rails For B2B
PYMNTS
SEPTEMBER 24, 2020
Between the Office of the Comptroller of the Currency clearing the way for financial institutions (FIs) to embrace stablecoin, and The Clearing House's latest real-time payments (RTP) push, new payment rails continue to gain traction. OCC Clears Banks For Stablecoin. SatoshiPay Debuts Blockchain Payments Platform.
Axiom Bank hit with enforcement action
Finextra
OCTOBER 18, 2024
The Office of the Comptroller of the Currency (OCC) has filed an enforcement action against Axiom Bank in Florida.
OCC FinTech Efforts in Legal Crosshairs, While GDPR Still Lags
PYMNTS
SEPTEMBER 17, 2018
Or to put it a bit more specifically, the Conference of State Bank Supervisors sued the Office of the Comptroller of the Currency. The suit is one alleging that the OCC does not have the authority to provide such licenses under the FinTech charter that has been proposed. New York state is suing the United States.
OCC seeks dismissal of New York fintech charter challenge
Payments Source
AUGUST 23, 2017
The Office of the Comptroller of the Currency is seeking to scrap a challenge to its fintech charter by New York’s bank regulator.
OCC Defines Top Threats To Banks This Season
PYMNTS
JULY 26, 2017
Treasury’s Office of the Comptroller of the Currency (OCC) has again released its report on top risks facing banks, with its Spring 2017 analysis warning FIs that threats are coming from all angles. PYMNTS outlines some of those key trends found in the OCC report below. Shifts in Lending Practices. Cyber Threats.
Why some fintech firms are saying no thanks to OCC charter
Payments Source
FEBRUARY 16, 2017
Some fintech firms are flatly rejecting the Office of the Comptroller of the Currency's creation of a charter for such firms, citing fears that it will come with too many strings attached.
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