Compliance

Curry Addresses Fintech Charter Questions in Speech

The OCC’s plan to issue limited-purpose national bank charters to fintech companies is not a path to “light-touch” regulation, nor will it mix banking and commerce, Comptroller of the Currency Thomas Curry said at an industry conference in New York today.

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DoD Reports MLA Website Malfunction

Due to a malfunction, the Department of Defense’s Military Lending Act website was unable to process a total of 149 request files between Feb. 9 and Feb. 15, according to a notice posted on the site.

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Fed, OCC Issue Transition Period Guidance on Variation Margin

As the ABA Securities Association and other trade groups have urged, the Federal Reserve and the OCC today issued guidance on how examiners will review compliance with the requirement for when swap dealers and major swap participants must exchange variation margin for swaps not cleared through a central counterparty.

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New York Finalizes Cybersecurity Rules

The New York Department of Financial Services today issued final regulations that will require NY chartered banks and affiliates to establish and maintain a cybersecurity program as part of an ongoing effort to protect consumers and the state’s financial system from cybercrime.

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FDIC Watchdog Highlights Gaps in Banks’ Vendor Contracts

Few banks’ contracts with technology service providers (TSPs) provide sufficient detail about the providers’ business continuity and incident response capabilities and duties, according to a report issued today by the FDIC’s independent inspector general.

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DOJ Releases ADA Website Accessibility Tools

The Department of Justice recently published an “ADA Best Practices Tool Kit,” which includes website accessibility guidance and a checklist that can be used to verify compliance with the Americans with Disabilities Act.

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