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The OCC issued a revised version of the “Change In Bank Control” booklet of the Comptroller’s Licensing Manual. The revised booklet replaces the booklet of the same title issued September 2017, makes corrections where necessary, and contains updated guidance.
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ICBA called on the FDIC to deny pending deposit insurance applications from industrial loan companies, citing the outsized risks ILCs pose to the Deposit Insurance Fund, financial stability, and consumers.
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Federal Reserve Governor Christopher Waller said banks engaging with crypto customers should be “very clear” about the customers’ business models, risk-management systems, and corporate governance structures to ensure the bank is not left “holding the bag if there is a crypto meltdown.”
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Prepared remarks from Acting Comptroller of the Currency Michael Hsu reiterated his push for regulators to review federal frameworks for bank mergers.
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