CFPB, Federal Agencies, State Agencies, and Attorneys General
The OCC has issued a final rule establishing standards that a bank must follow in fulfilling its obligation to provide fair access to financial services. The final rule is effective on April 1, 2021.
The final rule was issued on the same day that Acting Comptroller of the Currency Brian Brooks stepped down at…
After reviewing the proposal’s statutory basis, coverage, and operative requirements, Mr. Court explains the basis for BPI’s position that the proposal is inconsistent with how banking is regularly conducted and will undermine rather than promote safety and soundness, provides examples of how the proposal would impose unworkable requirements, and discusses BPI’s Freedom of Information Act…
FDIC Chairman Jelena McWilliams recently stated that the FDIC is not contemplating a rulemaking “at this time” similar to the OCC’s proposed fair access rule issued last month.
Chairman McWilliams made this statement in response to a question asked during the FDIC’s presentation of third quarter 2020 results for FDIC-insured institutions. Ms. McWilliams was…
The OCC has issued a proposed rule that would establish standards that a bank must follow in fulfilling its obligation to provide fair access to financial services. Comments on the proposal are due by January 4, 2021.
The rule would apply to national banks and federal savings associations with a market position that allows them…
