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Anchorage Digital Bank has an inadequate AML compliance program and will have to create a committee within 15 days to develop a remediation plan and submit progress reports, according to the Office of the Comptroller of the Currency.
April 21 -
The Office of the Comptroller of the Currency recently decided to put an official in charge of the rising number of small and midsize national banks that partner with fintechs or have nontraditional business plans. The agency’s goal is to establish a team that understands cutting-edge technologies and establishes consistent oversight policies in response.
April 17 -
The acting comptroller pushed back against a key feature of Sen. Pat Toomey’s stablecoin proposal, and the idea that stablecoins could be regulated as money market funds
April 8 -
Mutual institutions, long pillars of underserved communities, now face insurmountable barriers to entry.
April 4Locke Lord -
Not all reforms are created equal. Only those truly taking a consumer-first approach — such as curtailing fees and allowing for grace periods — will see lasting benefits in customer loyalty, writes the acting comptroller of the currency.
March 28 -
The agency will create a deputy comptroller position responsible for “novel” banking providers, redraw its territories and more closely align its examiner staffs for small and medium-size banks.
March 25 -
A supervisory letter detailing their failings in assessing exposure to a collapsed hedge fund suggests that the Federal Reserve believes banks are falling short in basic risk management.
March 11Better Markets -
The megabank is dealing with one less regulatory headache following the termination of an enforcement action related to the sale of identity protection products.
January 20 -
With the Biden administration suffering setbacks in trying to appoint a Senate-confirmed leader at the Office of the Comptroller of the Currency, acting Comptroller Michael Hsu could emerge as the consensus choice, observers said.
December 21 -
The Independent Community Bankers of America made the rare move of urging senators not to confirm Saule Omarova to lead the Office of the Comptroller of the Currency. The group argued that some of her proposals could have drastic consequences for the industry.
November 17