The OCC proposed the removal of unnecessary provisions of certain rules in order to reduce the regulatory burden on national banks and federal savings associations.
News & Insights
The Board of Governors of the Federal Reserve System, FDIC, National Credit Union Administration, Office of the Comptroller of the Currency and U.S. Treasury Financial Crimes Enforcement Network issued guidance on applying customer identification program requirements to prepaid cards issued by banks.
The OCC issued a white paper summarizing its research on "responsible innovation" in the federal banking system. Comments on the paper must be submitted by May 31, 2016.
Six regulatory agencies requested comment on a proposed rule regulating incentive-based compensation arrangements at covered institutions as required by the Dodd-Frank Act.
The Office of the Comptroller of the Currency reminded national banks and federal savings associations of their obligations concerning (i) the maintenance of records, (ii) records retention and (iii) examiner access.