News & Analysis as of

Federal Savings Associations Banking Sector

Goodwin

SEC Proposes Changes to Private Fund Regulation

Goodwin on

In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed changes to private fund regulation; the Office of the Comptroller of the Currency (OCC) succeeded in validating its “valid-when-made” rulemaking; the...more

Goodwin

President Biden Signs Executive Order Addressing Climate-Related Financial Risks

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In This Issue. President Biden signed an executive order addressing climate-related financial risks; the Office of the Comptroller of the Currency (OCC) finalized a rule applicable to national banks and federal savings...more

Goodwin

OCC Reconsiders Controversial Revisions to CRA Rules

Goodwin on

In This Issue. The Office of the Comptroller of the Currency (OCC) announced that it will reconsider its controversial June 2020 final rule revising its Community Reinvestment Act (CRA) rules, and published its Semiannual...more

Nelson Mullins Riley & Scarborough LLP

Brian Brooks' Last Dance

So let’s dance this last dance. On Jan. 4, 2021, the Office of the Comptroller of the Currency (“OCC”) published a Chief Counsel’s Interpretative Letter (the “Letter”) ‎confirming the authority of national banks’ and federal...more

Alston & Bird

OCC’s Final “True Lender” Rule Takes Effect

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A&B ABstract: On October 27, 2020, the Office of the Comptroller of the Currency (“OCC”) issued a noteworthy final rulemaking that sets forth when a national bank or federal savings association originates a loan and is deemed...more

Morrison & Foerster LLP

Financial Services Report – Winter 2020

Morrison & Foerster LLP on

Happy post-election, post-socially-distanced Thanksgiving, and pre-New Year’s newsletter. Banks, non-banks, and FinTechs can look forward to eight days of announcements from the Biden transition team with their latkes and...more

White & Case LLP

OCC Finalizes True Lender Rule, Attempting to End Uncertainty around Bank-Fintech Partnership Models

White & Case LLP on

The Office of the Comptroller of the Currency (OCC) issued a final rule that creates a bright-line test to determine when a national bank or federal savings association (bank) makes a loan and is the "true lender," including...more

Nelson Mullins Riley & Scarborough LLP

OCC Finalizes its “True Lender” Test: Paving the Way for Bank & Non-Bank Partnerships

The Office of the Comptroller of the Currency (“OCC”) issued its long-anticipated final rule on Oct. 27, to establish a “simple, bright-line test” to determine when a national bank or federal savings association has made a...more

Ballard Spahr LLP

Hundreds comment on OCC proposed “true lender” rule

Ballard Spahr LLP on

We recently published a blog about the OCC’s proposed rule “National Banks and Federal Savings Associations as Lenders” (the “Proposed Rule”), which would clarify that a bank (or savings association) is properly regarded as...more

Goodwin

Financial Services Weekly Roundup: The OCC’s True Lender Test Embraces A Simplified Solution

Goodwin on

In This Issue. The Office of the Comptroller of the Currency (OCC) proposed a rule that would establish that a national bank or federal savings association is the “true lender” of a loan if, as of the date of origination, the...more

Orrick - Finance 20/20

Amendments to the Stress Testing Rule for National Banks and Federal Savings Associations

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On October 10, the OCC published a final rule in the Federal Register that will amend the OCC’s stress testing rule at 12 CFR 46. The final rule implements requirements imposed by section 401 of the Economic Growth,...more

Locke Lord LLP

OCC Bulletin 2019-31: Covered Savings Associations Implementation

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This QuickStudy is intended to supplement our previous QuickStudy, published on June 17, 2019, regarding the election to be treated as a “covered savings association.” On July 1st, the OCC issued Bulletin 2019-31 (the...more

Locke Lord LLP

OCC Recently Issued Regulation Regarding Covered Savings Associations

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On May 24th the Office of the Comptroller of the Currency issued its final regulation (“final regulation”) implementing the provisions of the newly created section 5A of the Home Owners’ Loan Act. This new section 5A allows...more

Orrick - Finance 20/20

OCC Issues Final Rule Allowing Federal Savings Associations to Exercise National Bank Powers

On May 24, the Office of the Comptroller of the Currency (OCC) issued a final rule permitting federal savings associations with total consolidated assets of $20 billion or less to elect to operate as “covered savings...more

Nutter McClennen & Fish LLP

Nutter Bank Report: May 2019 

OCC Adopts Final Rule to Allow Federal Thrifts to Exercise National Bank Powers The OCC has issued a final rule that will allow federal savings associations with total consolidated assets of $20 billion or less as of...more

Kilpatrick

OCC Proposes Regulations That Would Allow Certain Federal Savings Associations to Operate with the Powers of a National Bank

Kilpatrick on

The Office of the Comptroller of the Currency (OCC) has proposed a rule that would implement section 206 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act), which requires the OCC to issue...more

Holland & Knight LLP

Regulatory Relief Act Benefits Community and Regional Banks

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• The Economic Growth, Regulatory Relief and Consumer Protection Act (the Act), which engendered substantial bipartisan support and was recently signed into law by President Donald Trump, amends parts of the Dodd-Frank Wall...more

Vedder Price

Regulatory Relief: It’s About Time

Vedder Price on

In November 2016, with the election results confirmed, the banking industry was awash in hopes for a more lenient regulatory posture. To date, the industry has seen no reform. However, on March 14, 2018, the Senate passed and...more

Ballard Spahr LLP

House passes bills to facilitate online banking, allow federal savings associations to exercise national bank powers

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The following bills were passed by the House earlier this week: The “Making Online Banking Initiation Legal and Easy (MOBILE) Act, H.R. 1457. Passed by a vote of 397-8, the MOBILE Act would allow a bank to scan and retain...more

Orrick, Herrington & Sutcliffe LLP

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 - Finance 20/20

Prohibition on Dealing or Investing in Industrial or Commercial Metals

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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

Orrick - Finance 20/20

OCC Released Update to the Bank Accounting Advisory Series

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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

Orrick - Finance 20/20

Comptroller Discusses Efforts to Ease Regulatory Burden on Community Banks

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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

Katten Muchin Rosenman LLP

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

Orrick - Finance 20/20

OCC Examines Risks Facing National Banks and Federal Savings Associations

On June 25, the OCC released a report presenting its findings on the risks facing national banks and federal savings associations. ...more

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