On January 4, 2021, the OCC issued a proposed rule codifying standards governing a national bank’s or federal savings association’s investment in real estate used, or to be used, as bank premises. Specifically, the proposed rule would revise 12 C.F.R. § 7.1024 in order to create a more transparent and consistent set of principles for evaluating the acquisition and use of national bank and federal savings association premises.
Continue Reading OCC Proposes Rule Codifying Standards for Investment in Bank Premises
National Banks
OCC Issues Guidance on National Banks and Stablecoin Activities
Posted in Fintech, Regulatory Compliance
On September 21, 2020, the Office of the Comptroller of the Currency (“OCC”) published a letter addressing the authority of nationals banks to hold deposits that serve as reserves for stablecoins, which is a type of cryptocurrency designed to have a stable value. The OCC concludes that national banks and federal savings associations may engage in certain stablecoin activities as described in the letter.
Continue Reading OCC Issues Guidance on National Banks and Stablecoin Activities