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 […]
Category Archives: Office of the Comptroller of the Currency
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 […]
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 […]
Brian P. Brooks to Step Down, Blake Paulson to Become Acting Comptroller of the Currency on January 14, 2021
News Release 2021-7 | January 13, 2021 Share This Page: WASHINGTON — Acting Comptroller of the Currency Brian P. Brooks today announced he will step down on January 14, 2021, and pursuant to 12 USC 4, Chief Operating Officer Blake Paulson will become Acting Comptroller of the Currency. “It has been a great honor to serve […]
OCC Conditionally Approves Conversion of Anchorage Digital Bank
News Release 2021-6 | January 13, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced conditional approval of the conversion of Anchorage Trust Company, a South Dakota chartered trust company, to become Anchorage Digital Bank, National Association. The OCC granted a national trust bank charter to Anchorage after thorough review […]
OCC Releases CRA Evaluations for 23 National Banks and Federal Savings Associations
News Release 2021-5 | January 7, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of December 1, 2020 through December 31, 2020. The list contains only national banks, federal savings associations, and insured federal […]
Acting Comptroller of the Currency Statement Regarding Capitol Riot and the OCC’s Enduring Mission
News Release 2021-4 | January 7, 2021 Share This Page: WASHINGTON, DC – Acting Comptroller of the Currency Brian P. Brooks issued the following statement to staff regarding the violent riots at the Capitol yesterday. Yesterday, we witnessed one of the ugliest moments in recent history. Violence and wanton lawlessness cannot be condoned. I echo Secretary […]
Acting Comptroller of the Currency Issues Statement on CFPB Task Force Study Regarding Federal Fintech Charters
News Release 2021-3 | January 6, 2021 Share This Page: WASHINGTON — Acting Comptroller of the Currency Brian P. Brooks issued the following statement upon release of the Consumer Financial Protection Bureau’s (CFPB) task force report (PDF) endorsing the need for federal charters for financial technology (fintech) companies. The thoughtful report by the task force created […]
Federally Chartered Banks and Thrifts May Participate in Independent Node Verification Networks and Use Stablecoins for Payment Activities
News Release 2021-2 | January 4, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today published a letter clarifying national banks’ and federal savings associations’ authority to participate in independent node verification networks (INVN) and use stablecoins to conduct payment activities and other bank-permissible functions. “While governments in other countries have […]