OCC

OCC Issues Clarification of the Treatment of Certain Sovereign and Securitization Positions

by Jeffrey M. Werthan | Katten Muchin Rosenman LLP on 5/22/2013

On May 10, the Office of the Comptroller of the Currency (OCC) issued Bulletin OCC 2013-13, which is intended to clarify the treatment of sovereign and securitization provisions under the Market Risk Capital Rule...more

Corporate and Financial Weekly Digest - May 17, 2013

by Katten Muchin Rosenman LLP on 5/20/2013

In this issue: - CFTC Adopts Final Rules for Execution Facilities and Other Matters - FINRA Issues Interpretive Guidance on Use of Back Tested Index Data by ETPs - Mississippi District Court Defers to New...more

OCC, FDIC Announce Overdraft Enforcement Actions

by BuckleySandler LLP on 5/13/2013

On April 30, the OCC and the FDIC announced parallel enforcement actions against a national bank and an affiliated state bank to resolve allegations that the institutions violated Section 5 of the FTC Act in their marketing...more

Federal Reserve Board Issues Statement On Deposit Advance Products

by BuckleySandler LLP on 5/10/2013

On April 25, the Federal Reserve Board issued a policy statement on deposit advance products. The statement came on the same day that the OCC and the FDIC proposed more formal guidance for such products....more

Federal Regulators Target Payday Loans, Deposit Advance Products

by BuckleySandler LLP on 5/6/2013

On April 24, the CFPB published a white paper on payday loan and deposit advance products that claims to show those products lead to a “cycle of high-cost borrowing.” On April 25, the FDIC and the OCC proposed guidance...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - May 3, 2013

by BuckleySandler LLP on 5/6/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - CREDIT CARDS - E-COMMERCE - PRIVACY/DATA SECURITY -...more

New Restrictions On Bank “Payday Loans”

by John K. Lawrence | Dickinson Wright on 5/6/2013

Federal bank regulatory agencies have served notice that deposit advance products, sometimes known as bank “payday loans,” will soon be subject to significant new restrictions and heightened supervisory scrutiny. In...more

OCC Seeks Reconsideration Of Order Requiring Disclosure Of Non-Public Documents Related To Bank’s AML/CTF Compliance

by BuckleySandler LLP on 5/2/2013

On April 24, the U.S. District Court for the Southern District of New York stayed an order that would have required a bank to disclose non-public supervisory information subject to the bank examination privilege. Wultz v....more

Financial Services Bulletin: Action At The CFPB, OCC, FDIC, And Fed

by Perkins Coie on 5/2/2013

On Thursday, April 25, 2013, the Office of the Comptroller of the Currency (the "OCC") and the Federal Deposit Insurance Corporation (the "FDIC") proposed guidance and the Board of Governors of the Federal Reserve System (the...more

FDIC and OCC Propose Limits on Deposit Advance Loans

by Jeffrey M. Werthan | Katten Muchin Rosenman LLP on 5/1/2013

On April 25 the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) proposed for public comment supervisory guidance to institutions subject to their jurisdictions (i.e.,...more

OCC and FDIC proposed guidance could effectively ban deposit advance loans

by Jeremy T. Rosenblum | Ballard Spahr LLP on 4/30/2013

Last Thursday, the Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation proposed guidance on deposit advance loans. The Federal Reserve Board declined to join the OCC and FDIC and instead...more

Corporate and Financial Weekly Digest - April 26, 2013

by Katten Muchin Rosenman LLP on 4/29/2013

In this issue: - NFA Amends CPO and CTA Quarterly Reporting Requirements - SDNY Imposes Second Highest Penalty Under Foreign Corrupt Practices Act - Grand Jury Indicts Swiss Lawyer and Banker in Tax...more

Options Industry Opposes Market-To-Market Tax Proposal

by Felix Shipkevich | Shipkevich PLLC on 4/26/2013

The options industry is attempting to stop a proposal that would tax most financial derivatives on a market-to-market basis, that values positions based on their fair value....more

CFPB, FDIC And OCC Move Against Pay Day Lenders

by Ethan Mark | Leonard, Street and Deinard - Dodd-Frank and... on 4/26/2013

The CFPB has issued a report on payday and deposit advance loans finding that for many consumers these products lead to a cycle of indebtedness. The loans generally have three features: they are small-dollar amounts;...more

The shoes are dropping: CFPB study of payday and deposit advance loans precedes reported OCC/FDIC action against deposit advance...

by Jeremy T. Rosenblum | Ballard Spahr LLP on 4/25/2013

Earlier today, the CFPB released a white paper reporting on its study of 15,000,000 storefront payday loans and 100,000 accounts eligible for deposit advances (of which approximately 15% involved a deposit advance during the...more

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OCC Issues Clarification of the Treatment of Certain Sovereign and Securitization Positions

Corporate and Financial Weekly Digest - May 17, 2013

OCC, FDIC Announce Overdraft Enforcement Actions

Federal Reserve Board Issues Statement On Deposit Advance Products

Federal Regulators Target Payday Loans, Deposit Advance Products

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - May 3, 2013

New Restrictions On Bank “Payday Loans”

OCC Seeks Reconsideration Of Order Requiring Disclosure Of Non-Public Documents Related To Bank’s AML/CTF Compliance

Financial Services Bulletin: Action At The CFPB, OCC, FDIC, And Fed

FDIC and OCC Propose Limits on Deposit Advance Loans

OCC and FDIC proposed guidance could effectively ban deposit advance loans

Corporate and Financial Weekly Digest - April 26, 2013

Options Industry Opposes Market-To-Market Tax Proposal

CFPB, FDIC And OCC Move Against Pay Day Lenders

The shoes are dropping: CFPB study of payday and deposit advance loans precedes reported OCC/FDIC action against deposit advance...

The OCC’s New Stance: FDIC Insurance Required For ‘Trust-Only’ National Banks

The New Normal: Taking Responsibility for Your Vendors [Video]

Bank Regulators Announce First Foreclosure Review Payments

Multi-Agency Guidance on Leveraged Lending Practices

AML Enforcement – A New Era Of Compliance

U.S. Regulators Issue Final Guidance on Leveraged Lending

Federal Regulators Clarify Effective Dates For Flood Insurance Amendments

Federal Reserve Board And OCC Publish White Paper On CRE Concentration Guidance

2012 Bank Enforcement Actions Still High, But Significantly Lower Than 2010-11

Federal Reserve Board Announces BSA/AML Enforcement Action Against Bank Holding Company

The New Normal: Taking Responsibility for Your Vendors [Video]

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