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Government Accountability Office Office of the Comptroller of the Currency

Orrick, Herrington & Sutcliffe LLP

GAO Report Reveals How Financial Institutions (And Their Regulators) Are Using AI

Curious about how financial institutions, their service providers, and their federal regulators are using and overseeing machine learning and other AI tools? A new GAO report published on May 19th (the “Report”) provides a...more

Nutter McClennen & Fish LLP

Nutter Bank Report: February 2025

Amid media reports that the administration may be considering a plan to consolidate the FDIC, the supervisory functions of the Federal Reserve, and the OCC into a single agency, President Trump issued an executive order...more

Paul Hastings LLP

PHFintech: Crypto Policy Tracker - November 22, 2024

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In this update, we focus on the potential changes in the executive branch and on the congressional committees that have jurisdiction over cryptocurrency. As the transition unfolds, much attention is on who will stay from the...more

Goodwin

2023 Year in Review: Fintech

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Welcome to the Fintech chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - The CFPB is expected to finalize rulemaking authorizing supervision of payment application...more

Ballard Spahr LLP

GAO issues report on OCC fair lending oversight

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In response to a request from three Democratic House members, the GAO recently issued a report on its review of fair lending oversight conducted by the Office of the Comptroller of the Currency. According to a Law360 report,...more

Morrison & Foerster LLP

Line In The Sand: OCC Issues Final Rule Adopting Bright-Line “True Lender” Standard

Morrison & Foerster LLP on

Capping off months of proposed rules and settlements addressing marketplace lending issues, on October 27, 2020, the Office of the Comptroller of the Currency (OCC) finalized a rule specifying that a national bank or federal...more

White & Case LLP

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

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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

Clark Hill PLC

Bank Regulators' "Clarifying" Statement on Enforcing Supervisory Guidance

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The prudential regulators, including the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, and Office of the Comptroller of the Currency...more

A&O Shearman

US Government Accountability Office Releases Report Regarding US Federal Financial Institution Regulator Compliance with the...

A&O Shearman on

The US Government Accountability Office released a report that details the compliance of six US federal financial institution regulators (the US Board of Governors of the Federal Reserve System, the US Office of the...more

A&O Shearman

US Federal Banking Regulators May Re-evaluate Leveraged Lending Guidance

A&O Shearman on

The US Board of Governors of the Federal Reserve System, and the US Federal Deposit Insurance Corporation sent letters to Representative Blaine Luetkemeyer stating that they are considering seeking public input regarding...more

A&O Shearman

The U.S. Government Accountability Office Determines That 2013 Leveraged Lending Guidance Is a Rule

A&O Shearman on

On October 19, 2017, the United States Government Accountability Office (GAO) issued an opinion determining that the 2013 Interagency Guidance on Leveraged Lending (the “2013 Guidance”), issued jointly by the Office of the...more

Kramer Levin Naftalis & Frankel LLP

GAO Agrees to Decide the Legality of the Leveraged Lending Guidance; Indicates Decision Will Take “at Least a Few Months”

On May 23, the Government Accountability Office (GAO), in a letter to Senator Patrick Toomey, R-Pa., agreed to determine whether the Guidance on Leveraged Lending jointly issued in 2013 by the Board of the Governors of the...more

Perkins Coie

Blockchain Week in Review – April 2017 #3

Perkins Coie on

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

Nossaman LLP

Major Security Breach Reported to Congress By Federal Bank Regulator

Nossaman LLP on

Recently, the Office of the Comptroller of the Currency (OCC) informed Congress that it had suffered a major information security incident. The agency reported that, in November 2015, a former employee downloaded over...more

Goodwin

Financial Services Weekly News - April 2016 #3

Goodwin on

Regulatory Developments - FHFA Announces Principal Reduction Program for Struggling Underwater Homeowners - On April 14, the Federal Housing Finance Agency (FHFA) announced a new Principal Reduction Modification...more

Ballard Spahr LLP

Agencies Issue Statement on Increased Maximum Flood Insurance Coverage for Other Residential Buildings

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The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Farm Credit Administration, the National Credit Union Administration, and the Federal Deposit Insurance Corporation...more

Goodwin

GAO Issues Report on Independent Foreclosure Review

Goodwin on

The GAO released its third and final report reviewing the Independent Foreclosure Review, an evaluation of the foreclosure practices of several mortgage servicers required by the consent orders entered into with the OCC and...more

Mintz - Public Finance Viewpoints

Financial Services Legislative And Regulatory Update -- January 14, 2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; Miscellaneous; and International. Excerpt from Leading the Past Week - As was widely anticipated, President Obama announced that he...more

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