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The OCC claimed that the 1864 National Bank Act bars states from enforcing their own laws against national banks. Justice Scalia stated in the opinion that while the OCC has "visitorial powers," the right to examine the affairs of a corporation, that does not mean that it has the exclusive right to enforcement. "A sovereign's 'visitorial powers ...
The Office of the Comptroller of the Currency (OCC) is an independent bureau within the United States Department of the Treasury that was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all national banks and federal thrift institutions and the federally licensed branches and agencies of foreign banks in the United States. [1]
Operation Choke Point was an initiative of the United States Department of Justice beginning in 2013 [1] which investigated banks in the United States and the business they did with firearm dealers, payday lenders, and other companies that, while operating legally, were said to be at a high risk for fraud and money laundering.
Section 312 of the Dodd-Frank Wall Street Reform and Consumer Protection Act transferred OTS functions to the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corp. (FDIC), the Federal Reserve Board, and the Consumer Financial Protection Bureau (CFPB) as of 21 July 2011. The OTS ceased to exist on 19 October 2011.
On June 21, 2012, the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System released a financial remediation framework Agencies release financial remediation guidance, extend deadline for requesting a free independent foreclosure review to September 30, 2012 that provided examples of errors in foreclosures covered by the regulators' consent orders ...
Facebook recently paid 1.4 million Illinois residents $397 in 2022 as part of a class action lawsuit for facial recognition breaches through its “Tag Suggestions” feature, per CNBC.
Introduced in the House as "Financial Institutions Reform, Recovery and Enforcement Act of 1989" H.R. 1278 by Henry B. Gonzalez (D-TX) on March 6, 1989; Committee consideration by House Banking, Finance, and Urban Affairs, House Government Operations, House Judiciary, House Rules, House Ways and Means; Passed the House on June 15, 1989 (320–97)
The Bank was already under a consent order from 2012 (2012-160) which required Lone Star National Bank to undertake remedial actions with respect to its BSA/AML program. [ 5 ] An additional consent order (2015-029) [ 6 ] was issued on March 31, 2015, in regards to serious deficiencies in Lone Star National Bank's lending practices. [ 7 ]