OCC Proposes “Fair Access” Requirements for Large Banks
On November 20, 2020, the Office of the Comptroller of the Currency (“OCC”) issued a proposed rule that would impose on large national banks and federal savings associations (collectively, “banks”) a...
View ArticleOCC Proposes Rule Codifying Standards for Investment in Bank Premises
On January 4, 2021, the OCC issued a proposed rule codifying standards governing a national bank’s or federal savings association’s investment in real estate used, or to be used, as bank premises....
View ArticleFederal Agencies Release Final Rule Clarifying the Role of Supervisory Guidance
On January 19, 2021, several major federal financial regulators finalized rules clarifying the legal status of supervisory guidance. As we described in a client alert late last year, a number of...
View ArticleReview of the Future Regulatory Framework
As a reminder, the UK Treasury (HMT) published its Consultation on the Second Phase of the Future Regulatory Framework Review (FRFR) in October 2020. The Consultation is open for input until 19...
View ArticleUK Government Consultation on the UK Funds Network
On 25 January, the UK Treasury launched a wide-ranging Consultation on how to make the UK a more attractive location to set up, manage and administer funds. The objective being to create a destination...
View ArticleCFPB Releases FDCPA Report to Congress Covering Debt Collection Activities in...
On March 23, 2021, the CFPB submitted its report to Congress covering its administration of the Fair Debt Collection Practices Act (“FDCPA”) during 2020. Because the CFPB shares responsibility for...
View ArticleCFPB Issues Rule Targeted at Preventing Illegal Evictions
On April 19, 2021, the CFPB issued an interim final rule (“rule”) aimed at preventing illegal evictions. This measure is intended to support an eviction moratorium issued by the Centers for Disease...
View ArticleFederal Banking Regulators Issue Proposal on Income Tax Allocation Agreements
On April 22, 2021, the Federal Reserve Board, FDIC, and OCC (the “agencies”) issued a notice of proposed rulemaking that would require banks that file tax returns as part of a consolidated tax filing...
View ArticleOCC to Reconsider June 2020 Community Reinvestment Act Final Rule
On Tuesday, May 18, 2021, the Office of the Comptroller of the Currency (“OCC”) announced that it will reconsider its June 5, 2020 final rule (“final rule”) overhauling its regulations implementing...
View ArticleA Closer Look: Federal Court Upholds OCC’s & FDIC’s Valid-When-Made Rules
Delivering a significant win for the financial services industry, a California federal judge upheld “valid when made” rules promulgated by the Office of the Comptroller of the Currency (OCC) and the...
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