News Release 2020-110 | August 25, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices along the U.S. Gulf Coast at their discretion. In issuing the proclamation, the OCC expects that only […]
Category Archives: Office of the Comptroller of the Currency
OCC Allows National Banks and Federal Savings Associations Affected by California and Colorado Wildfires to Close
News Release 2020-109 | August 24, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices affected by wildfires in California and Colorado at their discretion. In issuing the proclamation, the OCC expects […]
Agencies Issue Statement on Bank Secrecy Act Due Diligence Requirements for Customers Who May Be Considered Politically Exposed Persons
News Release 2020-108 | August 21, 2020 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemFederal Deposit Insurance CorporationFinancial Crimes Enforcement NetworkNational Credit Union AdministrationOffice of the Comptroller of the Currency WASHINGTON—The Federal Reserve Board, the Federal Deposit Insurance Corporation, the Financial Crimes Enforcement Network, the National Credit Union Administration, and the […]
Bank Accounting Advisory Series Updated
News Release 2020-106 | August 17, 2020 Share This Page: WASHINGTON — The Office of the Comptroller of the Currency (OCC) today released an update to the Bank Accounting Advisory Series (BAAS). The BAAS covers a variety of topics and promotes consistent application of accounting standards among national banks and federal savings associations. This edition of […]
Federal Banking Agencies Issue Joint Statement on Enforcement of Bank Secrecy Act/Anti-Money Laundering Requirements
News Release 2020-105 | August 13, 2020 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemFederal Deposit Insurance CorporationNational Credit Union AdministrationOffice of the Comptroller of the Currency WASHINGTON—The federal banking agencies today issued a joint statement updating their existing enforcement guidance to enhance transparency regarding how they evaluate enforcement actions that […]
OCC Hosts Minority Depository Institutions Advisory Committee Meeting September 1 Via Remote Means
News Release 2020-104 | August 13, 2020 Share This Page: WASHINGTON — The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Minority Depository Institutions Advisory Committee (MDIAC) on Tuesday, September 1, 2020, via remote means. The meeting is open to the public and will begin at […]
OCC Releases CRA Evaluations for 30 National Banks and Federal Savings Associations
News Release 2020-103 | August 7, 2020 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 July 1, 2020 through July 31, 2020. The list contains only national banks, federal savings associations, and insured federal […]
OCC Reduces September 2020 Assessments in Response to COVID-19
News Release 2020-102 | August 7, 2020 Share This Page: WASHINGTON— The Office of the Comptroller of the Currency (OCC) is reducing assessments in response to the national health emergency related to COVID-19. Assessments due on September 30, 2020, for all OCC-supervised banks will be calculated using the December 31, 2019, Call Report for each institution, […]
OCC Assesses $80 Million Civil Money Penalty Against Capital One
News Release 2020-101 | August 6, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today assessed an $80 million civil money penalty against Capital One, N.A., and Capital One Bank (USA), N.A. The OCC took these actions based on the bank’s failure to establish effective risk assessment processes prior to migrating […]
OCC Issues Rule Creating Exception to Withdrawal Period Requirement for Collective Investment Funds, Eases Impact of COVID-19
News Release 2020-100 | August 4, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today issued an interim final rule clarifying rules regarding account withdrawals from collective investment funds (CIF). The rule amends the OCC’s requirements applicable to national banks and federal savings associations administering CIFs invested primarily in real estate […]