News with the tag "Office of the Comptroller of the Currency"

The Office of the Comptroller of the Currency (OCC) is easing its stance on how US banks deal with crypto and stablecoin activities. In a new press release, the regulatory agency says that banks now have the green light to manage crypto assets, partake in certain stablecoin activities and participat...

President Donald Trump is just about done naming the key figures he's seeking to get into financial regulation posts that will direct the future oversight of the crypto industry, now including lawyer Jonathan Gould as a nominee to run the Office of the Comptroller of the Currency that oversees U.S. ...

The crypto industry can likely look forward to two more agencies falling into line on its digital assets policy aims: the Office of the Comptroller of the Currency, which is one of the chief U.S. banking regulators, and the Consumer Financial Protection Bureau, where the lights are effectively being...

The Office of the Comptroller of the Currency (OCC) is taking action against a former bank employee for allegedly stealing thousands of dollars in just one week. The OCC says it’s issuing an order of prohibition against Sabrina Prince for violations of law that resulted in unjust enrichment at the e...

A former Wells Fargo senior manager just agreed to pay a $40,000 fine and turn his back on the banking industry. The Office of the Comptroller of the Currency (OCC) is issuing a consent order against ex-Wells Fargo operations senior manager Norman Desembrana for allegedly misleading customers, engag...

The Federal Reserve and the Office of the Comptroller of the Currency (OCC) are hitting banking giant JPMorgan Chase with a $348.20 million fine in a coordinated enforcement action. Both the Fed and the OCC say JPMorgan engaged in “unsafe or unsound banking practices” in relation to its trade survei...

Vast Bank, the U.S. financial institution that once offered customers the unique ability to manage cryptocurrencies alongside traditional banking, is exiting the digital asset space and shutting down its crypto mobile app in response to a consent order from the Office of the Comptroller of the Curre...

Figure Technologies, Inc., has pulled its application to become a federally chartered bank in the U.S., ending a three-year rollercoaster ride as regulators clamped down on crypto activity and digital assets banking suffered a black eye when regional lenders associated with the tech world cratered e...

Acting Comptroller of the Currency Michael J. Hsu just issued a fresh warning about potential risks to the US banking system. In a new statement from the Office of the Comptroller of the Currency (OCC), Hsu says that banks should be “on the balls of their feet” with regards to risk management as cre...

Self-styled crypto skeptic Michael Hsu, the acting head of the U.S. Office of the Comptroller of the Currency (OCC), said tokenization of assets is a serious advance into the future of finance, but decentralized blockchains may be too problematic to handle that movement.