Office of the Comptroller of the Currency

Banking Regulators Planning Crypto Guidance
Risk & Compliance

Banking Regulators Planning Crypto Guidance

The agencies will clarify "whether certain activities related to crypto-assets conducted by banking organizations are legally permissible."
By Matthew Heller | November 24, 2021
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Regulator Hits Wells Fargo With $250M Fine
Risk & Compliance

Regulator Hits Wells Fargo With $250M Fine

The OCC says deficiencies in a Wells Fargo loan modification program constituted “reckless unsafe or unsound practices."
By Matthew Heller | September 10, 2021
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Citigroup Fined $400M Over Risk System Defects
Risk Management

Citigroup Fined $400M Over Risk System Defects

“The public rebuke marks a major escalation of regulators’ efforts to get Citigroup to fix its risk systems."
By Matthew Heller | October 8, 2020
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Fintech Varo Wins FDIC Approval To Take Deposits
Trade Finance

Fintech Varo Wins FDIC Approval To Take Deposits

The company said the approval was “a significant step in [its] application process for a national bank charter.”
By Vincent Ryan | February 11, 2020
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Former Wells Fargo CEO Banned From Banking
Risk & Compliance

Former Wells Fargo CEO Banned From Banking

A regulator also fined John Stumpf $17.5 million for failures of leadership that contributed to the bank's fake-accounts scandal.
By Matthew Heller | January 24, 2020
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OCC Cannot Grant Special Bank Charters to Fintech Companies
Risk & Compliance

OCC Cannot Grant Special Bank Charters to Fintech Companies

Tech startups trying to become banks can no longer expedite the process with a fintech charter.
By Lauren Muskett | October 24, 2019
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N.Y. Regulator Sues U.S. Over Fintech ‘Folly’
Risk & Compliance

N.Y. Regulator Sues U.S. Over Fintech ‘Folly’

The Department of Financial Services is challenging the Trump administration's move to allow fintech firms to apply for national bank charters.
By Matthew Heller | September 17, 2018
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Square Applies for Charter to Form Bank
Regulation

Square Applies for Charter to Form Bank

The payments firm wants to offer a one-stop shop for financial needs by operating Square Financial Services under an industrial loan company charter.
By Matthew Heller | September 13, 2017
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Bank Regulator Steps Up Wells Fargo Oversight
Risk & Compliance

Bank Regulator Steps Up Wells Fargo Oversight

“This is the OCC saying, ‘We don’t trust you to run your business,’” a former bank examiner says.
By Matthew Heller | November 21, 2016
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Regulators Target Banks’ Cybersecurity Policies
Technology

Regulators Target Banks’ Cybersecurity Policies

A draft proposal by three agencies seeks to boost cyber defenses and reduce the impact on the financial system of an attack.
By Matthew Heller | October 20, 2016
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Is the Future of Fintech a Bank Charter?
Regulation

Is the Future of Fintech a Bank Charter?

The benefits in bank conversion are clear, but the path to getting approval from regulators that tend to distrust innovation is challenging.
By John Beaty | July 25, 2016
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Easing Street
Risk

Easing Street

Bank's credit underwriting standards loosened considerably in 2014, especially among commercial loan products, says the OCC.
By Vincent Ryan | December 17, 2014
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Leveraged Lending Pullback Tied to Regulatory Scrutiny
M&A

Leveraged Lending Pullback Tied to Regulatory Scrutiny

Large U.S. banks may be heeding the warnings of regulators and staying away from highly leveraged deals.
By Matthew Heller | October 23, 2014
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N.Y. Fed Missed Chances to Catch ‘London Whale’
Risk Management

N.Y. Fed Missed Chances to Catch ‘London Whale’

Regulators had planned to review the proprietary trading activities of JPMorgan's chief investment office as early as 2008.
By Matthew Heller | October 22, 2014
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Credit Suisse Gets Fed Warning About Leveraged Loans
Regulation

Credit Suisse Gets Fed Warning About Leveraged Loans

The bank's underwriting and sale of leveraged loans may not be in compliance with regulatory guidance issued just last year.
By Matthew Heller | September 17, 2014
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