News Release 2022-128 | October 14, 2022 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today conditionally approved the merger of MUFG Union Bank, National Association, San Francisco, California, into U.S. Bank, National Association (U.S. Bank). The approval follows consideration of numerous public comments submitted in writing and expressed during a public […]
Category Archives: Office of the Comptroller of the Currency
Acting Comptroller Discusses Crypto and the Regulatory Perimeter
News Release 2022-126 | October 11, 2022 Share This Page: WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed cryptocurrency and the regulatory perimeter in remarks to the Harvard Law School and Program on International Financial Systems’ Roundtable on Institutional Investors and Crypto Assets. Mr. Hsu’s comments discussed the need to clarify supervisory expectations related […]
Acting Comptroller Discusses Identifying Crypto Risks
News Release 2022-125 | October 11, 2022 Share This Page: WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed the importance of identifying and monitoring crypto risks to protect consumers and the financial system in remarks at DC Fintech Week 2022. His comments included discussion of skeuomorphisms, commingling, and data gaps to help risk identification. […]
OCC Releases Bank Supervision Operating Plan for Fiscal Year 2023
News Release 2022-124 | October 6, 2022 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released its bank supervision operating plan for fiscal year (FY) 2023. The plan provides the foundation for policy initiatives and for supervisory strategies as applied to individual national banks, federal savings associations, federal branches, federal agencies, […]
Acting Comptroller of the Currency Issues Statement on FSOC’s Report on Digital Asset Financial Stability Risks and Regulation
News Release 2022-123 | October 3, 2022 Share This Page: WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today released the following statement in support of the Financial Stability Oversight Council’s (FSOC) Report on Digital Asset Financial Stability Risks and Regulation. I would like to start by thanking Secretary Yellen, the member agencies, and all the […]
OCC Allows National Banks and Federal Savings Associations Affected by Hurricane Ian in Alabama, Georgia, North Carolina and South Carolina to Close
News Release 2022-122 | September 29, 2022 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices in areas affected by Hurricane Ian in Alabama, Georgia, North Carolina and South Carolina. In issuing […]
Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricanes Fiona and Ian
News Release 2022-121 | September 29, 2022 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemConference of State Bank SupervisorsFederal Deposit Insurance CorporationNational Credit Union AdministrationOffice of the Comptroller of the Currency The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the […]
OCC Allows National Banks and Federal Savings Associations Affected by Hurricane Ian in Florida to Close
News Release 2022-120 | September 27, 2022 Share This Page: WASHINGTON — The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices in areas affected by Hurricane Ian in Florida. In issuing the proclamation, the OCC […]
OCC Assesses $6 Million Civil Money Penalty Against Sterling Bank and Trust, FSB
News Release 2022-119 | September 27, 2022 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today assessed a $6 million civil money penalty against Sterling Bank and Trust, FSB, Southfield, Mich. The OCC also terminated the June 18, 2019, Formal Agreement between the bank and the OCC. The OCC’s penalty is based […]
OCC Hosts Risk Governance and Compliance Risk Workshops in Nashville
News Release 2022-117 | September 21, 2022 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) will host two workshops November 1-2 in Nashville, Tenn., for directors, senior management, and other key executives of national community banks and federal savings associations. The Risk Governance: Improving Director Effectiveness workshop on November 1 combines lectures, […]