OCC Grants Five Virtual-Asset Firms Initial Approval to Launch Trust Banks
The Office of the Comptroller of the Currency has conditionally approved five national trust bank charters for firms focused on digital assets, in a move that brings more crypto-related activity into the federal banking system but under supervisory constraints.
U.S. Treasury Seeks ‘Gatekeeper’ Role Over AML Penalties
The Trump administration is moving to give the U.S. Treasury Department’s financial intelligence unit a decisive say over how banks are punished for anti–money-laundering (AML) failures, according to new reporting by The Wall Street Journal.
OCC Says Nine Banks Improperly Imposed Risk Controls on ‘Controversial’ Clients
Nine of the largest U.S. lenders made “inappropriate distinctions” among customers in politically sensitive sectors, including by applying enhanced risk controls in response to negative media reports, the Office of the Comptroller of the Currency (OCC) said.
OCC Ends Final Wells Fargo Fake-Accounts Case Without a Fine
The U.S. Office of the Comptroller of the Currency (OCC) has settled its last remaining enforcement action tied to Wells Fargo’s 2016 fake-accounts scandal without imposing a fine, Banking Dive reported.
Monzo Mulls Fresh U.S. Banking License Bid Amid Deregulatory Shift
UK digital bank Monzo is weighing a fresh attempt to secure a US banking license, four years after abandoning its previous bid when talks with regulators stalled, according to the Financial Times.