News & Analysis as of

Administrative Procedure Act Banking Sector Office of the Comptroller of the Currency

Cadwalader, Wickersham & Taft LLP

New Regulatory Priorities Spring Into Focus, April 2025 - Fed, FDIC and OCC Move to Rescind 2023 CRA Rule

The Federal Deposit Insurance Corporation (“FDIC"), Federal Reserve Board (“FRB”), and the Office of the Comptroller of the Currency (“OCC”) (collectively, “the Agencies”) announced, that they intend to issue a proposal to...more

Davis Wright Tremaine LLP

"Operation Chokepoint 2.0": De-banking policies and the adverse use of reputational risk in bank supervision

As we have previously noted, we expect that the second Trump Administration will be significantly more favorable to crypto than the Biden Administration, especially with the recent appointment of David Sacks as the...more

Orrick, Herrington & Sutcliffe LLP

OCC and FDIC Successfully Defend Valid-When-Made Rules

The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) have successfully defended their respective valid-when-made rules. On February 8, 2022, Judge Jeffry S. White, U.S....more

Sheppard Mullin Richter & Hampton LLP

OCC Prevails in Challenge to “Valid When Made” Rule

On February 8, the U.S. District Court for the Northern District of California ruled against three states – California, Illinois, and New York – challenging the OCC’s rule on the “valid when made” doctrine. In 2020, the OCC...more

Morgan Lewis - All Things FinReg

Congress Invalidates True Lender Rule, President Expected to Sign

On June 24, the US House of Representatives voted to join the US Senate in a joint resolution of disapproval under the Congressional Review Act (CRA) of the Office of the Comptroller of the Currency’s (OCC’s) “true lender”...more

Goodwin

California, Illinois and New York Sue OCC on “Valid When Made” Rule

Goodwin on

On July 29, 2020, three states – California, Illinois, and New York – filed suit against the Office of the Comptroller of the Currency (OCC) in the U.S. District Court for the Northern District of California, challenging the...more

Ballard Spahr LLP

NYDFS files brief with Second Circuit in OCC’s appeal from district court judgment in lawsuit challenging fintech charter

Ballard Spahr LLP on

The New York Department of Financial Services (DFS) has filed its opening brief with the Second Circuit in the OCC’s appeal from the district court’s final judgment in DFS’s lawsuit challenging the OCC’s issuance of special...more

Eversheds Sutherland (US) LLP

Southern District of New York rules against OCC fintech charter

On October 23, the District Court for the Southern District of New York (SDNY) issued a final judgment setting aside in relevant part the regulation on which the Office of the Comptroller of the Currency (OCC) based its...more

Ballard Spahr LLP

D.C. District Court Allows Payday Lenders’ Due Process Claims To Proceed In Case Against “Operation Choke Point”

Ballard Spahr LLP on

On July 5, 2017, the U.S. District Court for the District Columbia, in the lawsuit filed in 2014 challenging “Operation Choke Point” — a federal enforcement initiative involving various agencies, including the Consumer...more

Orrick, Herrington & Sutcliffe LLP

Association of State Regulators Sues to Enjoin OCC's Fintech Special-Purpose National Bank Charters

Last week, a group of state regulators, the Conference of State Bank Supervisors ("CSBS"), filed suit in the U.S. District Court for the District of Columbia seeking to enjoin the Office of the Comptroller of the Currency...more

Katten Muchin Rosenman LLP

Six Federal Regulators Issue Final Interagency Policy Statement on Diversity Policies and Practices of Regulated Entities

On June 9, the Federal Reserve Board, Consumer Financial Protection Bureau, Federal Deposit Insurance Corporation, National Credit Union Administration, Office of the Comptroller of the Currency and Securities and Exchange...more

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