OCC Approves Final Rule on Supervisory Guidance

News Release 2021-12 | January 19, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today approved a final rule confirming the OCC’s use of supervisory guidance for banks. The final rule codifies a statement, as amended, that was issued by the OCC, Board of Governors of the Federal Reserve System, Federal […]

OCC Publication Focuses on Bank Investments in Opportunity Zones

News Release 2021-11 | January 19, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today published the latest edition of its Community Developments Investments newsletter, “Strengthening Communities With Opportunity Zone Investments.” This edition of Community Developments Investments explains how banks can support distressed communities by making investments in tax-advantaged qualified opportunity […]

Treasury Targets Venezuelan Oil Sector Sanctions Evasion Network

Washington – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated three individuals, fourteen entities, and six vessels for their ties to a network attempting to evade United States sanctions on Venezuela’s oil sector. The illegitimate Maduro regime has continued to use Petroleos de Venezuela, S.A. (PdVSA) as its primary […]

Can-Am Off-Road Maverick X3 Wins the Dakar Rally for an Unprecedented Fourth Consecutive Year Amidst More Competition

Another History-Making Performance Against Tougher Competition at the World’s Toughest Race ©BRP 2021 Valcourt, Quebec, January 15, 2021 – Four. Wins. In a row. BRP (TSX: DOO; NASDAQ: DOOO) and its Can-Am Off-Road vehicles just scored their fourth consecutive Dakar Rally victory (2018–2021), sweeping the top 11 places. Together, Maverick X3 racers completed more than […]

OCC Fines Former Wells Fargo General Counsel $3.5 Million in Settlement

News Release 2021-10 | January 15, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it has assessed a $3.5 million penalty against James Strother for his role in Wells Fargo Bank, N.A.’s systemic sales practices misconduct. The penalty came as part of a settlement with the bank’s former General […]

Treasury Finalizes Payroll Support to Aid Airline Industry Employees

WASHINGTON – Today, U.S. Treasury Secretary Steven T. Mnuchin announced that the U.S. Department of the Treasury approved more than $12 billion in payroll support for major passenger air carriers to support airline industry workers. Subtitle A of Title IV of Division N of the Consolidated Appropriations Act, 2021 (the PSP Extension Law) provides for […]

Treasury Sanctions the Cuban Ministry of the Interior and Its Leader for Serious Human Rights Abuse

Washington – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated the Cuban Ministry of Interior and the Minister of Interior, Lazaro Alberto Álvarez Casas, for serious human rights abuse, pursuant to Executive Order (E.O.) 13818, which builds upon and implements the Global Magnitsky Human Rights Accountability Act and targets […]

Good Design USA – BRP Wins Three Prestigious Awards

Valcourt, Quebec, January 14, 2021 – BRP has ended 2020 on a high note with three big wins at the prestigious Good Design USA Awards, thanks to its innovative and creative design. Here are the three winning products: 2020 Sea-Doo GTI 2020 Can-Am Spyder RT 2020 Ski-Doo Expedition Xtreme A winning year for BRP“We’re thrilled […]

OCC Releases 2021 Schedule of Virtual Bank Director Workshops

News Release 2021-9 | January 14, 2021 Share This Page: WASHINGTON — The Office of the Comptroller of the Currency (OCC) today announced its 2021 schedule of free, virtual workshops for board of directors of national banks and federal savings associations. The OCC examiner-led workshops provide practical training and guidance to directors of national community banks […]

OCC Finalizes Rule Requiring Large Banks to Provide Fair Access to Bank Services, Capital, and Credit

News Release 2021-8 | January 14, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released its finalized rule to ensure fair access to banking services provided by large national banks, federal savings associations, and federal branches and agencies of foreign bank organizations. The rule codifies more than a decade of […]