OCC Publishes Revised "Background Investigations" Booklet

The Office of the Comptroller of the Currency ("OCC") published a new "Background Investigations" booklet of the Comptroller's Licensing Manual. The new booklet is a revision of the publication issued in April 2009. The new booklet incorporates updated procedures and requirements to reflect the integration of Office of Thrift Supervision functions into the OCC, as well as revised regulations that became effective on July 1, 2015.

The booklet outlines requirements for banks (i) to notify the OCC when there is a change of directors or senior executive officers, and (ii) documents required by the OCC to review the background of proposed directors and executive officers. The booklet also describes prerequisites for exceptions and waiving submission of required documents.