OCC News Issuances

OCC Announces Deputy Comptrollers for Chartering, Organization and Structure

The Office of the Comptroller of the Currency announced the promotions of Jason Almonte and Sebastian Astrada to Deputy Comptrollers for Chartering, Organization and Structure (CO&S). In their new roles, they will set policies and provide executive direction on federal bank applications, chartering, and corporate activities. The announcement highlights their experience with digital asset filings, de novo charter applications, and business combinations.

AML/CFT Program Requirements - Notice of Proposed Rulemaking

The OCC, FDIC, and NCUA jointly issued a notice of proposed rulemaking to amend BSA compliance program requirements for supervised banks, rebranding them as AML/CFT programs. The proposal would incorporate FinCEN's national AML/CFT priorities, add customer due diligence requirements, establish a two-pronged framework for evaluating program establishment and maintenance, and create a new notice and consultation framework for AML/CFT enforcement and supervisory actions. The changes align bank regulations with amendments made by the Anti-Money Laundering Act of 2020.

Prohibition on Use of Reputation Risk by Regulators: Final Rule

The OCC and FDIC issued a joint final rule prohibiting banking regulators from using reputation risk as a basis for supervisory criticism or adverse action against institutions. The rule also bars agencies from requiring or encouraging banks to terminate or modify relationships with third parties based on political, social, religious views, constitutionally protected speech, or lawful but politically disfavored activities. The rule codifies the agencies' removal of reputation risk from their supervisory frameworks and will take effect 60 days after Federal Register publication.

AML/CFT Program Requirements Proposed Rule - Joint Consultation

Three federal banking regulators (FDIC, OCC, NCUA) jointly published a proposed rule to modernize AML/CFT program requirements for supervised banks and credit unions. The amendments would align agency regulations with the Anti-Money Laundering Act of 2020 and FinCEN requirements, including risk-based program design, explicit customer due diligence integration, and a new FinCEN consultation framework. The proposal requires comments within 60 days of Federal Register publication.

Final Rule Prohibits Regulators from Using Reputation Risk in Bank Supervision

The Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation jointly issued a final rule codifying the elimination of reputation risk from their supervisory programs. The rule defines reputation risk and explicitly prohibits the agencies from criticizing, taking adverse action, or instructing banks to close customer accounts based on a person's political, social, cultural, religious views, constitutionally protected speech, or lawful business activities perceived as reputational risk.