Topic: Office of the Comptroller of the Currency

Trump-era CRA ruling to be reconsidered under new acting comptroller

The Office for the Comptroller of the Currency has promised to reconsider changes it announced last year to its implementation of the Community Reinvestment Act eight days after Michael Hsu took office as acting comptroller of the currency.

19 May 2021

PNC-BBVA deal approved amid calls for merger review

The United States Federal Reserve has approved Pittsburgh-based PNC’s purchase of Spanish bank BBVA’s US subsidiary, as Fed governor Lael Brainard calls for a “broader review” of the country’s merger review framework.

17 May 2021

OCC names acting comptroller

The US Treasury has appointed Michael Hsu as acting Comptroller of the Currency, replacing Trump appointee Blake Paulson, as tensions around community reinvestment and true lender rules increase.

10 May 2021

Fed proposes fintech access guidelines

The US Federal Reserve has proposed new guidelines on granting fintechs access to its payment system – as the banking industry raises concerns over access for “uninsured and lightly regulated” entrants.

07 May 2021

Covington advising as OCC approves Paxos charter

Blockchain platform Paxos is set to be the first crypto firm to hold both national and state bank charters in the US, after the Office of the Comptroller of the Currency granted its charter application preliminary conditional approval in the face of industry backlash.

27 April 2021

Former OCC head Brooks joins blockchain startup

The United States’ former acting Comptroller of the Currency has joined the board of a blockchain credit startup, as the identity of his successor remains unknown.

17 March 2021

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

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