Topic: Office of the Comptroller of the Currency

Perkins Coie advising on first US national digital asset bank

The Office of the Comptroller of the Currency has granted conditional approval for the launch of the United States’s first federally chartered digital asset bank.

18 January 2021

Brooks departs OCC, finalising "fair access" on the way out

The US Acting Comptroller of the Currency, Brian Brooks, is stepping down – finalising the controversial “fair access” rule on his final day in office – as former CFTC chair Gary Gensler is reportedly being tapped to head the SEC.

14 January 2021

OCC faces blowback for “fair access” proposal

The US Office of the Comptroller of the Currency is facing stiff opposition from the banking industry to a proposed rule that would compel banks to lend to socially undesirable companies such as the fossil fuel and arms industries, as the “unusually compressed” comment period for the proposal ends.

08 January 2021

US banks can use stablecoins and blockchain for settlement, OCC says

The US Office of the Comptroller of the Currency will allow federally chartered banks to use public blockchains and stablecoins as a settlement infrastructure.

06 January 2021

OCC moves against fossil fuel “discrimination”

The US Office of the Comptroller of the Currency has proposed a “fair access” rule that would prevent banks from limiting their lending to the fossil fuel and other unpopular industries.

23 November 2020

What will Biden’s presidency mean for banking regulation?

Joe Biden has defeated Donald Trump to become the United States’ next president – triggering an overhaul of the federal government and its regulatory agencies. What can banking regulation practitioners around the world expect from the new administration?

19 November 2020

Sullivan & Cromwell and Wachtell Lipton advise as PNC buys BBVA USA

Pittsburgh-based PNC has agreed the purchase of Spanish bank BBVA’s US subsidiary – setting off a regulatory approvals process that will extend into the Biden administration.

18 November 2020

US regulators approve new-look liquidity rule despite opposition

US financial regulators have approved measures requiring major banks to prove their funding can endure one year of stress, amid objections from minority members of the Federal Reserve and FDIC boards that the revamped rule “defeats the purpose” of the original proposal.

22 October 2020

US regulators pave way for higher capital distributions despite dissent

US banking regulators have finalised a measure allowing banks to make higher capital distributions under stressed financial conditions, over the objections of the minority members of the Federal Reserve and FDIC boards.

28 August 2020

OCC’s Otting out

The US Comptroller of the Currency, Joseph Otting, is stepping down midway through his five-year term, days after issuing new rules under the Community Reinvestment Act which have failed to gain FDIC or Federal Reserve support.

22 May 2020

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