Fair Access to Financial Services

November 24, 2020 OCC, Regulation lookup 0

Title:	Fair Access to Financial Services
Subject:	Risk
Agency:	OCC
Status:	Final rule
Summary:	The Office of the Comptroller of the Currency is proposing a regulation to ensure that national banks and Federal savings associations offer and provide fair access to financial services.
FR Doc:	2020-26067
Date proposed:	Nov. 23, 2020
Comments due date:	Jan. 4, 2021
Effective date:	April 1, 2021
Rule compliance date:
Agency release:	Proposed Rule Would Ensure Fair Access to Bank Services, Capital, and Credit OCC Finalizes Rule Requiring Large Banks to Provide Fair Access to Bank Services, Capital, and Credit OCC Puts Hold on Fair Access Rule
Related Reg Report item(s):	Proposal would block banks from denying credit to firms for reasons other than risk On last day on job, outgoing acting comptroller finalizes ‘fair access’ rule – 10 days after comment period closes OCC puts pause on ‘fair-access rule’ to give next comptroller time to review it (and comments)

Three of nation’s largest banks sued for allowing ‘fraud to fester’ on Zelle payment network

December 20, 2024 0

Claiming three of the largest banks in the country allowed “fraud to fester” on an online payment provider, resulting in more than $870 million lost by customers over seven years, the federal consumer financial protection agency Friday filed suit against [...]
WARM holiday greetings: Agency issues quarterly update to tool for calculating CECL

December 20, 2024 0

The latest life-of-loan – or Weighted Average Remaining Maturity (WARM) – factors are included in the updated simplified tool for credit unions released Friday to measure credit losses, their federal regulator said. The National Credit Union Administration (NCUA) said for [...]
FinCEN provides financial institutions ‘red flags’ of potential frauds using FinCEN’s name

December 20, 2024 0

An alert about fraud schemes abusing the name, insignia, and authorities of Treasury’s financial crimes enforcement unit for financial gain was issued this week to warn corporations, money services businesses and financial institutions and urge that suspected incidents be reported. [...]
OCC annual report notes sound banking system, but urges banks to guard against complacency

December 20, 2024 0

The federal banking system is sound, but banks were urged to guard against complacency and remain vigilant according to the national bank regulator’s 2024 annual report, issued Friday. The Office of the Comptroller of the Currency (OCC) said the report [...]

Related