News & Analysis as of

Final Rules Banks Office of the Comptroller of the Currency

GeoDataVision

Have Regulators Already “Raised the Bar” for CRA Exams?

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When the new 2023 CRA Rule was approved by regulators FDIC Chairman Martin Gruenberg indicated one of the goals was to “raise the bar” for CRA performance ratings. Now that the final 2023 CRA performance ratings are in it...more

BakerHostetler

DOJ Withdraws 1995 Bank Merger Guidelines as FDIC, OCC Make Regulatory Changes

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On September 17, 2024, the Department of Justice Antitrust Division (DOJ) shut the vault doors on its 1995 Bank Merger Guidelines, leaving the 2023 Merger Guidelines as its sole authoritative statement on the topic of mergers...more

Orrick, Herrington & Sutcliffe LLP

OCC releases final rule on the Bank Merger Act

On September 17, the OCC approved a final rule amending its procedures for reviewing applications under the Bank Merger Act. The rule will aim to provide clearer guidelines for institutions regarding the OCC’s review process...more

Patomak Global Partners

FDIC and OCC Focus on Resolution and Recovery Capabilities Testing

The Situation: The Federal Deposit Insurance Corporation (FDIC) has issued a final rule which substantively changes the scope and expectations for Insured Depository Institution (IDI) resolution plans (FDIC Final Resolution...more

Sheppard Mullin Richter & Hampton LLP

Persisting Regulatory Uncertainty: Federal Regulators Delay New Community Lending Rules

On March 21, the FDIC, Fed, and OCC jointly issued an interim final rule to extend the applicability date of certain provisions of the Community Reinvestment Act (CRA) final rule and requested comments on the extension. The...more

Ballard Spahr LLP

Trade groups file lawsuit in Texas federal court challenging final OCC/FDIC/Federal Reserve Community Reinvestment Act rules

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Several national and Texas banking and business trade groups have filed a lawsuit in the U.S. District Court for the Northern District of Texas challenging the final regulations (Final Rules) implementing the Community...more

Troutman Pepper

Breaking: Community Reinvestment Act Final Rule Published

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As discussed here, on October 24, the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency finally issued their long-awaited final rule modernizing how they...more

Orrick, Herrington & Sutcliffe LLP

OCC publishes bank guidance on shortening the standard settlement cycle following SEC final rule

On January 17, the OCC issued its OCC Bulletin 2024-3 which highlighted the actions banks should take to prepare for the upcoming changes to the standard settlement cycle. These new changes are designed to “reduce the credit,...more

Nutter McClennen & Fish LLP

Nutter Bank Report: December 2023

A recent OCC report identified key issues facing the federal banking system, including increasing credit risk due to higher interest rates, increasing risk in commercial real estate lending, prolonged inflation, declining...more

Ballard Spahr LLP

The new CRA: Understanding the final rule and its impact on large, intermediate, and small banks #1

Ballard Spahr LLP on

On October 24, 2023, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a final rule amending their regulations...more

Goodwin

Banking Agencies Finalize Community Reinvestment Act Rules

Goodwin on

On October 24, 2023, the Board of Governors of the Federal Reserve Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (collectively, the Agencies) approved long-awaited final...more

Ballard Spahr LLP

Key differences between the OCC’s rescinded 2020 CRA final rule and the 2022 CRA revisions proposed by U.S. banking regulators

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As we previously reported, the Office of the Comptroller of the Currency (“OCC”) rescinded its 2020 Community Reinvestment Act (“CRA”) final rule (the “2020 CRA Final Rule” or the “Rescinded Rule”) in December 2021 and has...more

Sheppard Mullin Richter & Hampton LLP

May 1st is Around the Corner: Bank Computer-Security Incident Notification Requirements

A few months ago, we published a post about the OCC, FDIC, and Federal Reserve Board’s final rule to improve information sharing about cyber incidents that may affect the U.S. banking system. Under the final rule, banks and...more

Akin Gump Strauss Hauer & Feld LLP

US Banks Must Now Report Hacks Within 36 Hours

The banking regulators of the Federal Reserve Board, Federal Deposit Insurance Corporation, and the Office of the Comptroller of Currency jointly announced a new rule requiring banking organizations in the United States to...more

Ballard Spahr LLP

OCC issues final rule rescinding June 2020 CRA rule and restoring 1995 framework

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On December 4, 2022, the OCC issued a final rule that rescinds its June 2020 Consumer Reinvestment Act (CRA) final rule and replaces it with a rule that is largely based on the OCC’s 1995 CRA rule that was adopted jointly...more

Dorsey & Whitney LLP

The Prudential Bank Regulators Adopt Federal Data Interruption Notice Requirements for FDIC-Insured Institutions and Service...

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On November 23, 2021, the Office of the Comptroller of the Currency (the “OCC”), the Federal Deposit Insurance Corporation (the “FDIC”) and the Federal Reserve Board (the “Prudential Regulators”) exercised their collective...more

Sheppard Mullin Richter & Hampton LLP

Federal Bank Regulators Approve New Cybersecurity Incident Notification Rule

Last month, the FDIC, Federal Reserve Board, and the OCC announced a final rule to improve information sharing about cyber incidents that may affect the U.S. banking system.  Among other things, the final rule requires...more

Pillsbury Winthrop Shaw Pittman LLP

Federal Regulators Adopt New Computer-Security Incident Notification Requirements for Banks and Service Providers

In response to increasingly frequent and sophisticated cybersecurity attacks on banks and bank service providers, the federal prudential banking regulators—the Office of the Comptroller of the Currency (OCC), the Board of...more

Goodwin

CFPB Withdraws Proposal to Delay Debt Collection Final Rules

Goodwin on

In This Issue. The Consumer Financial Protection Bureau (CFPB) withdrew its proposal to delay the Debt Collection Final Rules; the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance...more

Locke Lord LLP

The OCC Proposes to Rescind Its ‎Community Reinvestment Act “2020 Final Rule” in Favor ‎of a ‎Cooperative Interagency Overhaul

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On July 20, 2021, the Board of Governors of the Federal Reserve System (the “FRB”), the ‎Federal Deposit Insurance Corporation (the “FDIC”), and Office of the Comptroller of the ‎Currency (“OCC”, and collectively with the FRB...more

Sheppard Mullin Richter & Hampton LLP

House Votes to Repeal OCC True Lender Rule

On June 24, the U.S. House of Representatives passed S.J. Res. 15 by a vote of 218-208 to repeal the Office of the Comptroller of the Currency’s (OCC) “True Lender” rule under the Congressional Review Act (CRA). The OCC...more

Ballard Spahr LLP

The OCC’s CRA Final Rule Under a New Comptroller and the Biden Administration: What Now?

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The fate of the OCC’s Community Reinvestment Act (“CRA”) final rule, issued on May 20, 2020, hangs in the balance following the inauguration of President Biden on January 20 and the resignation of former Acting Comptroller...more

Ballard Spahr LLP

OCC issues final fair access rule

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The OCC has issued a final rule establishing standards that a bank must follow in fulfilling its obligation to provide fair access to financial services. The final rule is effective on April 1, 2021....more

Goodwin

CFPB Grants No-Action Letter for Proposed Small-Dollar Credit Product

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In the News. The Consumer Financial Protection Bureau (CFPB) granted a no-action letter (NAL) regarding a proposed small-dollar credit product and sought comment on the CFPB’s plan to study how consumers locate, comprehend...more

Morgan Lewis - All Things FinReg

OCC Issues Final ‘True Lender’ Rule

The Office of the Comptroller of the Currency (OCC) issued a final rule on October 27 that determines when a national bank or federal savings association (bank) makes a loan and is the “true lender” in the context of a...more

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