Articles with tag like: OCC

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Federal agency ends anti-money laundering consent order for Wells Fargo

News | Digital Identity, Security & Online Fraud | 06 Jan 2021

The Comptroller of the Currency (OCC) had terminated a 2015 consent order related to an anti-money laundering compliance program after Wells Fargo took steps to remedy the problems.

customer due diligence, money laundering, CDD, banking, fraud prevention, OCC, US, Wells Fargo

US regulator allows blockchains and stablecoins to be used as settlement by banks

News | Cryptocurrencies | 05 Jan 2021

The US Office of the Comptroller of the Currency has given the green light to national banks and federal savings institutions to use public blockchains and stablecoins for settlement.

US, blockchain, stablecoin, banking, settlement, OCC, compliance, AML, Bank Secrecy Act, blockchain

KB Kookmin Bank, Hashed partner for Bitcoin custody services

News | Cryptocurrencies | 11 Aug 2020

South Korea-based KB Kookmin Bank (KB) has partnered with blockchain venture fund Hashed and crypto exchange Cumberland Korea to offer Bitcoin custody services.

KB Kookmin Bank, Hashed, Bitcoin, custody services, Cumberland Korea, South Korea, blockchain, venture fund, crypto exchange, Office of the Comptroller of the Currency, OCC, banks, US, digital assets

Capital One to pay USD 80 mln fine over 2019 data breach

News | Digital Identity, Security & Online Fraud | 07 Aug 2020

Capital One Financial must pay an USD 80 million fine over issues related to a data breach in 2019 that exposed more than 106 million records of customers and credit card applicants.

Capital One Financial, data breach, fine, security, US, fraud prevention, OCC, banking, customer data

OCC issues letter regarding banks' crypto custody services

News | Cryptocurrencies | 23 Jul 2020

US-based bank regulator OCC has posted a letter clarifying national banks’ and federal savings associations’ authority to provide cryptocurrency custody services for customers. 

Office of the Comptroller of the Currency, OCC, US, United States, national banks, federal savings associations, cryptocurrency, crypto, custody services, fintech, innovation, banking, digital assets, state banks

SoFi files application to become a national bank

News | E-invoicing, SCF & E-procurement | 10 Jul 2020

SoFi, an online lender, has filed an application for a national bank charter with the Office of the Comptroller of the Currency.

SoFi, banks, online lender, lender, Office of the Comptroller of the Currency, SoFi Bank National Association, OCC, Federal Deposit Insurance, Federal Reserve, fintechs, banking

Community Bank to acquire Steuben Trust

News | Payments General | 15 May 2020

US-based Community Bank System has received the required regulatory approvals to complete the proposed acquisition of Steuben Trust Corporation.

Community Bank, Steuben Trust, Steuben Trust Corporation, banks, Office of the Comptroller of the Currency, OCC, Federal Reserve Bank of New York, FRBNY

NICE Actimize updates its risk management capabilities; supports OCC guidelines

News | Digital Identity, Security & Online Fraud | 02 Mar 2020

NICE Actimize has revealed it updated its fraud solutions portfolio including its Fraud Essentials, a cloud-based fraud solution. 

NICE Actimize, fraud, OCC, risk management, financial crime, fraud, financial institutions, AML, behavioural analytics, transactions , fraud detection, transactions

US fintech Varo receives regulatory approval for bank charter

News | Online & Mobile Banking | 12 Feb 2020

US-based fintech Varo has announced that the Federal Deposit Insurance Corp. has approved its application for deposit insurance.

Vero, digital bank, Office of the Comptroller of the Currency, OCC, US, North America, United States, banking licence, fintech, financial technology

USAA Bank scrutinized by US comptroller over risk management practices

News | Digital Identity, Security & Online Fraud | 20 Feb 2019

The Office of the Comptroller of the Currency (OCC) has inspected USAA Federal Savings Bank, after the government agency found issues with how the subsidiary manages risk.

risk management, compliance, audit, security, OCC, US, banking, USAA