OCC – NASCUS

Featured Story

Acting Comptroller Hsu Brings Crypto-Skepticism to Blockchain Summit

This week, Acting Comptroller of the Currency Michael Hsu gave remarks to the DC Blockchain Summit titled “Crypto: A Call to Reset and Recalibrate.” By speaking at the Blockchain Summit,...

Phony entity poses as a credit union with a bank charter

(Jan. 14, 2022) Entities using a “multitude” of fictitious names and websites – including as a credit union — are purporting to offer banking services in the state of Florida,...

BRIEFLY: SIF’s ‘normal operating level’ set at 1.33%; New director in Alaska; OCC finalizes rescinding of 2020 CRA rulemaking

(Dec. 17, 2021) The “normal operating level” (NOL) of the NCUSIF – the level at which NCUA considers whether it needs to inject more reserves into the fund to cover...

Comptroller candidate bows out after harsh reception

(Dec. 10, 2021) A new candidate for a permanent appointment as comptroller of the currency will have to be found by the Biden Administration after the most-recent nominee, Saule T....

Rule finalized requiring notification of cyber incidents

(Nov. 24, 2021) A final rule requiring banks to notify their federal regulators of certain cyber incidents with potentially systemic effects was approved jointly late last week; it takes effect...

BRIEFLY: FCU boards may continue to meet virtually; Fed gov cool to only CU, bank issuance of stable coins; Controversial OCC designee faces confirmation hearing

(Nov. 19, 2021) Flexibility for board meetings originally extended to FCUs during the height of the coronavirus crisis will be extended in the new year, NCUA said this week. In...

BRIEFLY: Tiny FCU conserved; Louisiana leader retires; OCC developing guidance on climate change risk; Exam Council revamps notification system

(Nov. 12, 2021) NCUA late last week placed the tiny Pomona Postal FCU of Pomona, Calif., into conservatorship, saying the credit union’s most recent call report shows it had 717...

Report calls for only federally insured CUs, banks to be stablecoin issuers

(Nov. 5, 2021) Payment stablecoins and their arrangements should be subject to a federal regulatory framework on a consistent and comprehensive basis through an act of Congress – including by...

BRIEFLY: Law professor picked to lead OCC; NCUA did not act aggressively enough on taxi CUs, GAO asserts; Cannabis-protection bill advances in House

(Sept. 24, 2021) Saule T. Omarova, a Cornell University law professor, is President Joe Biden’s (D) pick as nominee to a five-year term for Comptroller of the Currency, the White...

Bank agencies vow to work together on CRA rule

(July 23, 2021) New regulations on anti-redlining rules will be rescinded, and federal banking agencies vowed to work together to develop a new proposal, the agencies announced this week. On...

BRIEFLY: NCUA charters 2nd credit union of year; OCC ‘retires’ position of COO; NASCUS present at international CU regulators conference

(July 9, 2021) Community First Fund Federal Credit Union, of Lancaster, Penn., was chartered this week by NCUA, the second credit union chartered so far this year by the federal...

BRIEFLY: Biden replaces FHFA director after high court ruling; FCU usury ceiling stays at 18%; TRANSITION: Murray retires at Vizo Financial Corporate; Congress votes to repeal ‘true lender’ rule

(June 25, 2021) The Supreme Court ruled this week that the director of the Federal Housing Finance Authority (FHFA) may be fired by the president, overturning the agency’s structure which...