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Federal Savings Associations

US Office of the Comptroller of the Currency Announces One-on-One Industry Meetings as Part of Office of Innovation Office Hours

by Shearman & Sterling LLP on

The US OCC announced that its Office of Innovation will host two days of office hours for national banks, federal savings associations (FSAs) and fintech companies to discuss the OCC’s perspective on responsible innovation....more

OCC Issues Third-Party Relationship Supplemental Examination Procedures

On January 24, 2017, the Office of the Comptroller of the Currency (the “OCC”) issued examination procedures to supplement its 2013 guidance Third-Party Relationships: Risk Management Guidance. The examination procedures...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - Class Action Against Lending Club and WebBank Headed to Defeat - On Monday, January 31, 2017, a federal district court in the Southern District of New York granted a motion to...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - Class Action Against Lending Club and WebBank Headed to Defeat - On Monday, January 31, 2017, a federal district court in the Southern District of New York granted a motion to...more

Prohibition on Dealing or Investing in Industrial or Commercial Metals

On January 3, 2017, the Office of the Comptroller of the Currency (the “OCC“) finalized a rule that prohibits national banks and federal savings associations from dealing or investing in industrial or commercial metals. An...more

US Federal Banking Agencies Finalize Rule Expanding Examination Cycle for Small Insured Depository Institutions and US Branches...

by Shearman & Sterling LLP on

The US Federal Deposit Insurance Corporation, Federal Reserve Board and Office of Comptroller of Currency issued interagency final rules that increase the number of small banks and savings associations eligible for an...more

OCC & Federal Reserve Report and Proposed Rules - Limitation on Banks Dealing & Investing in Metals and other Physical Commodities

by Reed Smith on

On September 8, 2016, as required by Section 620 of the Dodd-Frank Act, the Board of Governors of the Federal Reserve System (the “Board”), the Office of the Comptroller of the Currency (the “OCC”) and the Federal Deposit...more

Agencies Adopt Final Rule on Swap Margin Requirements

The Office of the Comptroller of the Currency, Treasury (“OCC”), Board of Governors of the Federal Reserve System (“Board”), Federal Deposit Insurance Corporation (“FDIC”), Farm Credit Administration (“FCS”), and the Federal...more

OCC Report Examines Risks Facing National Banks and Federal Savings Associations

On July 11, 2016, the Office of the Comptroller of the Currency issued its semiannual report on risks faced by national banks and federal savings associations, using data through December 31, 2015....more

OCC Proposed Rule Changes under EGRPRA to Reduce Regulatory Burden

by Locke Lord LLP on

On March 14, 2016, the Office of the Comptroller of the Currency (OCC) proposed a number of changes to its rules in order to reduce the regulatory burden for its supervised financial institutions. Such an effort is part of...more

US Office of the Comptroller of the Currency Proposes Reducing Regulatory Burden

by Shearman & Sterling LLP on

The US Office of the Comptroller of the Currency issued a notice of proposed rulemaking that would remove outdated or unnecessary provisions of certain OCC rules to reduce the regulatory burden on national banks and federal...more

Financial Regulatory Developments Focus - March 2016 #2

by Shearman & Sterling LLP on

In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

CFTC Issues No-Action Relief From the Swap Clearing Requirements for Small Bank Holding Companies, Small Savings and Loan Holding...

On January 8, the Division of Clearing and Risk (Division) of the Commodity Futures Trading Commission issued no-action relief from the swap clearing requirements of Section 2(h)(1)(A) of the Commodity Exchange Act to certain...more

Federal Bank Regulatory Agencies Release CRA Asset-Size Thresholds for Small and Intermediate Small Institutions

On December 22, 2015, the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency (collectively, Agencies) announced the annual adjustment to the...more

SEC Division of Corporation Finance Issues Four Additional C&DIs on FAST Act

Since the adoption of the Fixing America’s Surface Transportation Act (FAST Act) on December 4, 2015, the Division of Corporation Finance (Division) of the Securities and Exchange Commission has issued six Compliance and...more

OCC Released Update to the Bank Accounting Advisory Series

On September 29, the Office of the Comptroller of the Currency released an update to the Bank Accounting Advisory Series (the “BAAS”). The goal of the BAAS is to promote consistent application of accounting standards among...more

Comptroller Discusses Efforts to Ease Regulatory Burden on Community Banks

On August 5, the Comptroller of the OCC addressed efforts to ease the burden of regulation on community national banks and federal savings associations....more

OCC Identifies Safety and Soundness Risks to National Banks and Federal Savings Associations and Supervisory Priorities

by Ballard Spahr LLP on

A new report issued by the federal Office of the Comptroller of the Currency (OCC) identifies top safety and soundness risks to national banks and federal savings associations, as well as OCC supervisory priorities for the...more

OCC Revises Residential Real Estate Lending Guidance in Comptroller’s Handbook

On June 15, the Office of the Comptroller of the Currency (OCC) issued the “Residential Real Estate Lending” booklet of the Comptroller’s Handbook. This revised booklet replaces the “Real Estate Loans” booklet issued in March...more

OCC Issues Final Rule to Integrate Licensing Rules for National Banks and Federal Savings Institutions

On May 18, the Office of the Comptroller of the Currency (OCC) adopted a final rule to (1) integrate its rules relating to policies and procedures for corporate activities and transactions involving national banks and federal...more

OCC Issues Final Rule on Integration of Federal Savings Association - National Bank Licensing Rules

by Reed Smith on

Title III of the Dodd-Frank Act transferred to the OCC all functions of the former Office of Thrift Supervision (“OTS”) and the Director of the OTS relating to federal savings associations. 12 U.S.C. § 5412(b)(2)(C). This...more

OCC Specifies ‘Heightened Expectations’ for Board of Director Oversight Responsibilities for Large Banks

The Office of the Comptroller of the Currency, or OCC, has adopted guidelines, issued as an appendix to its safety and soundness standards regulations, establishing minimum standards for the design and implementation of a...more

OCC Increases Semiannual Assessment for Larger National Banks and Federal Savings Associations

On August 11, the Office of the Comptroller of the Currency (OCC) issued a final rule that increases the OCC’s semiannual assessment on national banks and federal savings associations (banks) with more than $40 billion in...more

Corporate and Financial Weekly Digest - Volume IX, Issue 32

In this issue: - SEC’s Office of Investor Education and Advocacy Releases Alert on Identifying Fraudulent Private Placements - ICE Futures U.S. Issues Amendments to EFRP Rule and FAQs - Consumer Financial...more

OCC Issues Bulletin That Discusses the Characteristics of and Supervisory Considerations Concerning Mutual Federal Savings...

by Goodwin on

On July 22, 2014, the OCC issued a bulletin (OCC Bulletin 2014-35, the “Bulletin”) in which the OCC describes the special characteristics of mutual federal savings associations (“Mutual FSAs,” and, collectively with...more

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