The OCC announced today that it is pausing publication of its final fair access rule in the Federal Register to “allow the next confirmed Comptroller of the Currency to review the final rule and the public comments the OCC received, …
fair access
OCC issues final fair access rule
By Ronald K. Vaske & Ballard CFS Group on
Posted in OCC, Regulatory and Enforcement
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 …
This week’s podcast: A close look at the OCC’s fair access proposal with John Court, Executive Vice-President and General Counsel of the Bank Policy Institute
By Barbara S. Mishkin on
Posted in OCC, Regulatory and Enforcement
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 …
FDIC not expected to issue fair access rule
By Alan S. Kaplinsky on
Posted in FDIC, Regulatory and Enforcement
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 …
OCC issues proposed rule on fair access to financial services
By Alan S. Kaplinsky on
Posted in OCC, Regulatory and Enforcement
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 …