News & Analysis as of

Office of the Comptroller of the Currency Consumer Protection Laws

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - May 2024

Bank for International Settlements. Credit risk management. On April 30, 2024, Bank of International Settlements issued updated guidance on counterparty credit risk management. The fresh guidance reaffirms the need for...more

Sheppard Mullin Richter & Hampton LLP

New York Governor Consumer Protection Agenda Targets Unfair and Deceptive Practices and BNPL Providers

On January 2, 2024, New York Governor Kathy Hochul announced “a sweeping consumer protection and affordability agenda,” what she termed as the “most significant expansion of consumer laws since 1980.” As part of that agenda,...more

Latham & Watkins LLP

Federal Reserve Issues Cryptoasset Engagement “Rules of the Road” for Its Supervised Banking Organizations

Latham & Watkins LLP on

The Federal Reserve is taking measured steps to better understand the types of cryptoasset-related activities contemplated by its supervised banking organizations. On August 16, 2022, the Board of Governors of the...more

Nutter McClennen & Fish LLP

Nutter Bank Report: May 2022

Federal Banking Agencies Issue CRA Modernization Proposal The federal banking agencies have jointly issued a proposed rule that would modernize their regulations that implement the Community Reinvestment Act (the “CRA”). The...more

Eversheds Sutherland (US) LLP

Stablecoins: some key regulatory and enforcement initiatives of US regulators

During the past few months, the US Treasury, the US banking agencies, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have pursued several regulatory or enforcement initiatives...more

Bradley Arant Boult Cummings LLP

OCC Releases Final True Lender Rule

On October 27, 2020, the OCC released its final True Lender Rule. As discussed earlier on this blog, the OCC’s rule is designed to clarify the “true lender” doctrine, a legal test utilized by courts and regulators to...more

Buchalter

Buchalter COVID-19 Client Alert: OCC Issues Final Rule Defining “True Lender” – A Bank is the “Lender” if it is Named the Lender...

Buchalter on

On October 27, the Office of the Comptroller of the Currency issued a final rule that establishes a new standard for when a national bank or Federal savings association (“bank”) is the “true lender” in a lending arrangement...more

Cozen O'Connor

COVID-19 Drug Availability | Federal Banking Rule vs. State Usury Laws | Kickbacks For Pain Meds

Cozen O'Connor on

COVID-19- Bipartisan Group of Attorneys General Seeks to Expand Production of Antiviral Drug- A bipartisan group of 34 AGs, led by California AG Xavier Becerra and Louisiana AG Jeff Landry, sent a letter urging the U.S....more

Manatt, Phelps & Phillips, LLP

OCC Proposes Rule to Define the ‘True Lender’

On the heels of finalizing its Madden-fix rule, the Office of the Comptroller of the Currency (OCC) on July 20, 2020, issued a proposed regulation to address bank-partnership uncertainty arising from the so-called true lender...more

Ballard Spahr LLP

PLI 25th Annual Consumer Financial Services Institute – 25% discount available

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PLI’s 25th Annual Consumer Financial Services Institute will take place on March 23-24, 2020, in New York City (and by live webcast and groupcast in Philadelphia, Pittsburgh, and Mechanicsburg, Pennsylvania, and New...more

Ballard Spahr LLP

House Financial Services Committee: “rent-a-bank” hearing on Feb. 5; Director Kraninger to testify on Feb. 6

Ballard Spahr LLP on

On Wednesday, February 5, the House Financial Services Committee will hold the first part of a two-part hearing on “rent-a-bank” structures. The hearing is titled “Rent-A-Bank Schemes and New Debt Traps: Assessing Efforts to...more

Mayer Brown

US Interagency statement on the use of alternative data in credit underwriting

Mayer Brown on

On December 3rd, the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration and the Office of the...more

White & Case LLP

Consumer financial services: The road ahead: Marketplace lending

White & Case LLP on

The CFPB has traditionally not prioritized marketplace lenders in its supervisory and enforcement efforts. As a result, state regulators have increasingly sought to fill any perceived voids left by the Bureau....more

White & Case LLP

Consumer financial services: The road ahead: Mortgage origination and servicing

White & Case LLP on

In 2018, the CFPB issued multiple rules, and Congress passed legislation, to clarify, revise and update the regulatory framework applicable to the home mortgage origination and servicing market....more

Ballard Spahr LLP

State regulators file lawsuit challenging OCC special purpose national bank charter for fintech companies

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The Conference of State Bank Supervisors has filed a complaint in D.C. federal district court to stop the Office of the Comptroller of the Currency (OCC) from implementing its proposal to issue special purpose national bank...more

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