The Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA) – together, the agencies – recently released proposed guidance on third-party risk management practices for banking organizations and credit unions. If finalized, the proposal would rescind and replace the 2023 Interagency Guidance on Third-Party Relationships: Risk …
FinCEN, Other Regulators Clarify Use of Mobile Driver’s Licenses Under CIP Rule
On September 8, 2026, FinCEN, the Federal Deposit Insurance Corporation (FDIC), Federal Reserve, National Credit Union Administration (NCUA) and Office of the Comptroller of the Currency (OCC) jointly issued two new FAQs addressing how banks and credit unions may treat state-issued mobile driver’s licenses (mDLs) and other forms of government-issued digital credentials under the Customer Identification Program (CIP) Rule. The agencies also updated an existing …
FDIC, OCC Redefine ‘Unsafe or Unsound Practices’ and Raise Bar for MRAs
On September 1, 2026, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) published in the Federal Register a joint final rule that defines an “unsafe or unsound practice” under Section 8 of the Federal Deposit Insurance Act and modifies the agencies’ standards for issuing matters requiring attention (MRAs). The rule follows a notice of proposed rulemaking published …
Federal Agencies Rescind Interagency Statement on Special Purpose Credit Programs
Recently, the Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), Office of the Comptroller of the Currency (OCC), Consumer Financial Protection Bureau (CFPB), Department of Housing and Urban Development (HUD), Department of Justice (DOJ) and Federal Housing Finance Agency (FHFA) – together, the agencies – jointly rescinded the “Interagency Statement on Special Purpose Credit Programs Under the Equal Credit Opportunity Act and Regulation …
OCC and FDIC Jointly Propose Changes to Community Reinvestment Act Regulations
On July 31, 2026, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) proposed amendments to their regulations implementing the Community Reinvestment Act (CRA), a Civil Rights-era anti-redlining law. The agencies’ proposal follows a winding regulatory and litigation history to amend CRA regulations. Most recently, the agencies issued final rules amending the CRA in 2023, which subsequently were …
Bank Regulators Push to Roll Back Anti-Redlining Standards
The Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC) are expected to propose sweeping changes to the Community Reinvestment Act of 1977 (CRA) in the coming weeks – reportedly without the involvement of the Federal Reserve. While not formally confirmed, the OCC and FDIC are set to release a proposal that would raise the threshold for banks subject to …
Agencies Issue Guidance on Lending to Persons Not Authorized to Work in US
The Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC) and National Credit Union Administration (NCUA) recently jointly issued guidance reminding supervised financial institutions of their existing credit risk management obligations to borrowers who are not legally authorized to work in the United States (non-work-authorized borrowers). The guidance follows a recent White House executive order directing financial regulators to address risks “posed …
Agencies Propose Customer Identification Program Requirements for Stablecoin Issuers
On June 22, the Financial Crimes Enforcement Network (FinCEN), together with the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Federal Reserve), Federal Deposit Insurance Corporation (FDIC) and National Credit Union Administration (NCUA), published a joint notice of proposed rulemaking (NPRM) to implement customer identification program (CIP) requirements for permitted payment stablecoin issuers (PPSIs) under the Guiding …
Agencies Strip Reputation Risk From Interagency Supervisory Guidance
Recently, the Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC) and Federal Reserve Board (Federal Reserve) jointly updated 15 supervisory interagency guidance documents by removing references to “reputation risk.” The updated guidance follows other agency actions to remove “reputation risk” from supervisory guidance and examinations and is part of a broader federal effort to eliminate so-called politicized or unlawful debanking. …
FDIC Rescinds Supervisory Guidance on Multiple NSF Fees
The Federal Deposit Insurance Corporation (FDIC) has rescinded its Biden-era supervisory guidance that cautioned banks against charging multiple non-sufficient funds (NSF) fees on a declined transaction. In announcing the rescission, the FDIC stated that its prior guidance, called Supervisory Guidance on Multiple Re-Presentment NSF Fees, was “overly broad in scope” and “raised uncertainty” about when disclosures concerning multiple attempts to initiate a payment after a …