The OCC, FRB and FDIC requested comment on a set of rules as part of a process to identify "outdated" or "unnecessary" regulatory requirements on insured depository institutions and their holding companies.
News & Insights
The National Credit Union Administration issued guidance on the credit, strategic, compliance and reputational risks to federal credit unions arising from its credit union service organization rule.
A Federal Reserve Board policy that states that the Board will exercise its discretion under the Federal Reserve Act to limit state member banks to engaging as principal in only those activities that are permissible for national banks became effective on February 7, 2023.
In a policy statement, the Federal Reserve Board said that it will exercise its discretion under the Federal Reserve Act Section to limit state member banks to engaging as principal in only those activities that are permissible for national banks.
A cryptocurrency exchange settled New York State Department of Financial Services charges for failing to establish a compliance program to satisfy (i) New York banking law and (ii) NYDFS virtual currency, money transmitter, transaction monitoring and cybersecurity regulations.