OCC Enforcement Actions and Terminations

The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations.

The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2022/nr-occ-2022-5.html

OCC Conditionally Approves SoFi Bank, National Association

The Office of the Comptroller of the Currency (OCC) today conditionally approved applications from Social Finance Inc. (SoFi) to create SoFi Bank, National Association (SoFi Bank, N.A.), as a full service national bank headquartered in Cottonwood Heigh…

The Office of the Comptroller of the Currency (OCC) today conditionally approved applications from Social Finance Inc. (SoFi) to create SoFi Bank, National Association (SoFi Bank, N.A.), as a full service national bank headquartered in Cottonwood Heights, Utah.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2022/nr-occ-2022-4.html

Federal Reserve Board releases results of survey of senior financial officers at banks about their strategies and practices for managing reserve balances

Federal Reserve Board releases results of survey of senior financial officers at banks about their strategies and practices for managing reserve balances

Federal Reserve Board releases results of survey of senior financial officers at banks about their strategies and practices for managing reserve balances

Read more / Original news source: https://www.federalreserve.gov/newsevents/pressreleases/other20220118a.htm

Federal Reserve Board issues enforcement action with Allegiant United Holdings, LLC, Nano Financial Holdings, Inc., and Nano Banc, and announces termination of enforcement actions with Iowa Prairie Bank and Mariner’s Bancorp

Federal Reserve Board issues enforcement action with Allegiant United Holdings, LLC, Nano Financial Holdings, Inc., and Nano Banc, and announces termination of enforcement actions with Iowa Prairie Bank and Mariner’s Bancorp

Federal Reserve Board issues enforcement action with Allegiant United Holdings, LLC, Nano Financial Holdings, Inc., and Nano Banc, and announces termination of enforcement actions with Iowa Prairie Bank and Mariner's Bancorp

Read more / Original news source: https://www.federalreserve.gov/newsevents/pressreleases/enforcement20220118a.htm

CFPB Bans BrightSpeed Solutions and Its Former CEO for Supporting Telemarketing Scammers Targeting Older Americans

Today, the Consumer Financial Protection Bureau (CFPB) filed a proposed final judgement and order with a federal district court that, if entered by the court, would resolve a March 2021 lawsuit brought by the CFPB against BrightSpeed Solutions and its …

Today, the Consumer Financial Protection Bureau (CFPB) filed a proposed final judgement and order with a federal district court that, if entered by the court, would resolve a March 2021 lawsuit brought by the CFPB against BrightSpeed Solutions and its founder Kevin Howard.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-bands-brightspeed-solutions-and-its-former-ceo-for-supporting-telemarketing-scammers-targeting-older-americans/

CSBS Withdraws Legal Challenge to OCC Chartering Figure Bank, N.A.

The Conference of State Bank Supervisors yesterday withdrew its lawsuit filed with the U.S. District Court for the District of Columbia challenging the Office of the Comptroller of the Currency (OCC) authority to charter an uninsured deposit-taking nat…

The Conference of State Bank Supervisors yesterday withdrew its lawsuit filed with the U.S. District Court for the District of Columbia challenging the Office of the Comptroller of the Currency (OCC) authority to charter an uninsured deposit-taking national bank.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2022/nr-occ-2022-3.html

Federal Reserve Board announces approval of application by BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft

Federal Reserve Board announces approval of application by BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft

Federal Reserve Board announces approval of application by BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft

Read more / Original news source: https://www.federalreserve.gov/newsevents/pressreleases/orders20220114a.htm

Federal Reserve Board announces Reserve Bank income and expense data and transfers to the Treasury for 2021

Federal Reserve Board announces Reserve Bank income and expense data and transfers to the Treasury for 2021

Federal Reserve Board announces Reserve Bank income and expense data and transfers to the Treasury for 2021

Read more / Original news source: https://www.federalreserve.gov/newsevents/pressreleases/other20220114a.htm

CFPB Announces Settlement Regarding the 2019 Taskforce on Federal Consumer Financial Law

On January 14, 2022, the Consumer Financial Protection Bureau announced it has settled a lawsuit filed by the National Association of Consumer Advocates, U.S. Public Interest Research Group, and Professor Kathleen Engel. The lawsuit alleged that the Ta…

On January 14, 2022, the Consumer Financial Protection Bureau announced it has settled a lawsuit filed by the National Association of Consumer Advocates, U.S. Public Interest Research Group, and Professor Kathleen Engel. The lawsuit alleged that the Taskforce on Federal Consumer Financial Law did not comply with the Federal Advisory Committee Act.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-announces-settlement-regarding-the-2019-taskforce-on-federal-consumer-financial-law/

Acting Comptroller Discusses Crypto-Assets and Regulation

Acting Comptroller of the Currency Michael J. Hsu today discussed the regulation of stablecoins and other crypto-assets before the BritishAmerican Business Transatlantic Finance Forum 2021-2022 Executive Roundtable.

Acting Comptroller of the Currency Michael J. Hsu today discussed the regulation of stablecoins and other crypto-assets before the BritishAmerican Business Transatlantic Finance Forum 2021-2022 Executive Roundtable.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2022/nr-occ-2022-2.html