Following on the FDIC’s recent issuance of updated guidelines for appeals of material supervisory determination, the OCC is now proposing to replace the existing guidance for handling appeals of material supervisory determinations at institutions under its jurisdiction and to create a board to decide bank appeals. The deadline for comments on the proposal is April 20, 2026.… Continue Reading
Gould says OCC will take steps to promote federal preemption
By Ballard CFS Group on
Posted in OCC, Preemption
Comptroller of the Currency Joseph Gould is vowing that his agency will take a variety of steps to promote federal preemption, Law360 reported.
Speaking as part of a fireside chat at the Clearing House’s annual conference, Gould said that defending preemption will require rebuilding its political legitimacy, the news service reported.… Continue Reading
First Circuit Rules National Bank Act Does Not Preempt Rhode Island State Law
By Joseph J. Schuster, John L. Culhane, Jr., Ronald K. Vaske, Richard J. Andreano, Jr. & Alan S. Kaplinsky on
Posted in OCC, Preemption
HERE IS A LINK TO OUR SPECIAL PODCAST SHOW ABOUT THIS CASE AND ITS ENORMOUS IMPLICATIONS RELEASED ON WEDNESDAY, OCTOBER 1.
On September 22, 2025, a panel of the First Circuit Court of Appeals issued a significant opinion in Conti v. Citizens Bank, N.A., holding unanimously that the National Bank Act does not preempt a Rhode Island statute requiring mortgage lenders to pay interest on mortgage escrow accounts.… Continue Reading
OCC issues two bulletins on how it will deal with debanking
By Alan S. Kaplinsky on
Posted in OCC
The OCC has issued two bulletins clarifying how it will handle debanking at its supervised institutions.
One bulletin states that the agency will assess debanking in connection with licensing activities, including, but not limited to, charter applications, charter conversions, applications to exercise fiduciary powers, branch applications and requests for approval of business combinations, and as part of its Community Reinvestment Act reviews.… Continue Reading
Jonathan Gould confirmed as Comptroller of the Currency
By Ballard CFS Group on
Posted in OCC, Trump Administration
The Senate has confirmed Jonathan Gould as Comptroller of the Currency.
Gould, who served as Senior Deputy Comptroller and Chief Counsel at the OCC during President Trump’s first term, was confirmed 50-45. Every Democrat voted against the nomination.
He replaces Rodney Hood, who was Acting Comptroller, after being selected by Trump to serve in that role.… Continue Reading
Financial institutions may rely on third parties for Social Security, Taxpayer Identification Numbers
By Ballard CFS Group on
Banks and credit unions may now rely on third parties to provide a consumer’s Social Security or Taxpayer Identification Number, according to an order issued by the FDIC, OCC and the NCUA with the consent of the Financial Crimes Enforcement Network (FinCEN).
The Customer Identification Program Rule (“CIP rule”) implements part of the USA PATRIOT Act.… Continue Reading
OCC confirms that its national bank preemption regulations are valid and require no changes despite Cantero Supreme Court opinion
By Alan S. Kaplinsky on
Posted in OCC, Preemption
The OCC has mounted a vigorous defense of federal preemption, calling it “a cornerstone of the dual banking system, under which federally and state-charted banks operate alongside each other.”
“Federal preemption has proven to be a powerful enabler of local and national prosperity and growth,” Acting Comptroller Rodney Hood wrote in a letter to Brandon Milhorn, President and CEO of the Conference of State Bank Supervisors, who called for rescinding the preemption rules.… Continue Reading
OCC, FDIC eliminating ‘reputational risk’ from supervision, examinations
By Scott A. Coleman on
The OCC has removed “reputational risk” from its handbooks and guidance and the FDIC is moving to do the same.
The OCC’s decision supports “the OCC’s mission and its supervisory objectives to ensure that banks have appropriate and strong risk management processes for their business activities, treat customers fairly, and comply with applicable laws and regulations,” the agency said, in announcing the move.… Continue Reading
Crypto clarity: OCC’s new guidelines pave the way for banking innovation
Posted in OCC
On March 7, 2025, the Office of the Comptroller of the Currency (“OCC”) released Interpretive Letter 1183, marking a pivotal change in regulatory guidance for national banks and federal savings associations engaging in cryptocurrency activities. This recent directive, issued under Acting Comptroller Rodney Hood, rescinds the requirements set by Interpretive Letter 1179 from November 2021.… Continue Reading
FDIC, OCC and Justice Department update bank merger guidelines
By Scott A. Coleman & Beau Hurtig on
The FDIC, the OCC and the Justice Department earlier this month issued updated standards for bank mergers. The three agencies acted separately, although officials noted that they had worked with the other agencies involved.
“Continued engagement with our fellow regulators is vitally important, especially as it relates to evaluating the competitive effects of mergers,” FDIC Chairman Martin Gruenberg said.… Continue Reading