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Understanding U.S. Regulator’s Proposed Extended Comment Period

Perficient

Earlier this year, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Fed), and the Federal Deposit Insurance Corporation (FDIC) unveiled a proposed rule that would reshape the landscape for certain financial institutions.

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U.S. Regulators to Bank Boards: “Debt is Good”

Perficient

Mail: Chief Counsel’s Office, Attention: Comment Processing, Office of the Comptroller of the Currency, 400 7th Street, SW, suite 3E-218, Washington, DC 20219. Hand Delivery/Courier: 400 7th Street, SW, suite 3E-218, Washington, DC 20219 The full proposed 200+ page regulation is available here: Long-Term Debt (FR) (fdic.gov).

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Wells Fargo Says Lift Asset Cap To Helps SMBs

PYMNTS

Sheila Bair, former chair of the Federal Deposit Insurance Corporation (FDIC) and DC-based advocacy group Better Markets, have been among the voices calling for the asset cap to be temporarily lifted during the pandemic so that Wells can help with the CARES Act and assist SMB owners.

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California Dept. of Business Oversight launches “true lender” investigation of auto title lender’s partnership with Utah bank

CFPB Monitor

Because CCBank is a state-chartered FDIC-insured bank located in Utah, Section 27(a) of the Federal Deposit Insurance Act authorizes CCBank to charge interest on its loans, including loans to California residents, at a rate allowed by Utah law regardless of any California law imposing a lower interest rate limit.

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Bank planned in nation's capital secures FDIC approval

American Banker

Organizers of Founders Bank in Washington are still need to raise at least $25 million before opening.

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Finance Policy Predictions 2020: AML, Authentication, Collections & CRA

FICO

In 2018, the DC Circuit Court of Appeals issued a ruling which struck down or vacated, in part, a previous 2015 Declaratory Ruling and Order made by the Federal Communications Commission (FCC). In December, the FDIC and OCC issued a proposed rule to modernize the Community Reinvestment Act (CRA).

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ATMIA Weighs In On Cashless Retail Ban Debate

PYMNTS

In terms of upcoming advocacy efforts, Tente told PYMNTS that ATMIA has “a DC fly-in event in April and we will be talking to legislators about this issue.”. Council member and bill sponsor Ritchie Torres has said the ban is a way to make sure lower income communities, and those of color, are not shut out of marketplaces.

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