- Topic: OCC
- Client AlertApril 26, 2021
A recent federal district court decision out of Massachusetts found that a bank was the true lender on a loan subsequently transferred to a trust consisting of student loans. Robinson and Spears v. Nat’l. Collegiate Student Loan Trust 2006-2, 2021 WL 1293707, Case No. 20-cv-10203 ADB (D. Mass. April 7, 2021).
- White PaperSeptember 2020
The 2020 update of Chapman's marketplace lending guide discusses the Colorado true lender settlement, new “valid when made” regulations, and the latest legal, regulatory, and judicial developments affecting the marketplace lending industry.
- Client AlertSeptember 28, 2020
In 2015, the Second Circuit Court of Appeals issued an opinion finding that, under the doctrine of federal preemption, a non-bank assignee of a bank loan could not charge and collect the rates and fees that the bank could charge and was therefore subject to state law usury limits.
- ArticleThe Banking Law JournalSeptember 2020
The Ofﬁce of the Comptroller of the Currency recently issued its ﬁnal rule codifying as a regulation that the interest charged on loans that is permissible before the loan is transferred remains in effect after the loan is transferred.
- Client AlertJuly 24, 2020
The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation have been quite active in issuing or proposing new regulations and initiatives focused on financial technology and innovation in financial services.
- InterviewJune 2020
On June 11, the Online Lending Policy Institute hosted a conversation covering the expansive advance notice of proposed rulemaking in the fintech space.
- Client AlertJune 1, 2020
On May 29, the Office of the Comptroller of the Currency issued its final rule codifying as a regulation that the interest charged on loans that is permissible before the loan is transferred remains in effect after the loan is transferred.
- Client AlertFederal Banking Regulators Modify the Liquidity Coverage Ratio for Banks Participating in the Money Market Mutual Fund Liquidity Facility and the Paycheck Protection Program Liquidity FacilityMay 6, 2020
On May 5, federal banking regulators adopted an interim final rule that neutralizes the liquidity coverage ratio impact for banks participating in the Federal Reserve’s Money Market Mutual Fund Liquidity Facility and the Paycheck Protection Program Liquidity Facility.
- ArticleFederal Banking Regulators Propose New Bank Holding Company Category System to Apply to Capital and Liquidity Requirements and to Enhanced Prudential StandardsThe Banking Law JournalMarch 2019
This article outlines the features of proposals to adjust the applicability of certain capital and liquidity tests and certain enhanced prudential standards for bank holding companies.
- Client AlertFederal Banking Regulators Issue Interim Final Rule on Treatment of Certain Municipal Obligations as HQLASeptember 11, 2018
On August 22, the three federal banking agencies issued an interim final rule implementing the May 2018 banking law’s requirement that investment grade, liquid and readily marketable municipal obligations be treated as Level 2B “high quality liquid assets” under the liquidity coverage ratio rule.
- Client AlertMay 2, 2017
On April 19, the House Financial Services Committee posted a “discussion draft” of a revised version of the CHOICE Act. The discussion draft contains most of the provisions in last year’s bill with a number of important changes.
- Client AlertFebruary 10, 2017
The Supplemental Examination Procedures for Risk Management of Third-Party Relationships issued by the Office of the Comptroller of the Currency on January 24 establish detailed compliance obligations for relationships with third-party service providers.
- To the Point!Legal, Operations, and Strategy Briefs for Financial InstitutionsFebruary 7, 2017
In this edition:
- Mortgage Servicing Foreclosure Practices
- OCC Semiannual Risk Perspective
- ArticleFinancial CHOICE Act (H.R. 5983) as Guide to Possible Financial Regulatory Reform, Including “Dodd-Frank Repeal”Pratt's Journal of Bankruptcy LawFebruary/March 2017
With Republicans retaining control of both chambers of Congress and Donald Trump elected President, the prospects for financial regulatory reform have changed. Many observers point to the Financial CHOICE Act as the best indication of Republican Congressional aspirations for such reform.
- ArticleIllinois BankerNovember/December 2016
Considering the flurry of activity in the fintech arena, is there a place for banks and, if so, what role can banks play? Given that marketplace lending is the most developed form of fintech today, it can be analyzed to see how banks do play important roles and employ different strategies dealing with this emerging market segment.
- To the Point!Legal, Operations, and Strategy Briefs for Financial InstitutionsDecember 6, 2016
On Friday, Comptroller of the Currency Thomas Curry announced that the Office of the Comptroller of the Currency will issue limited-purpose bank charters to qualified fintech companies.
- To the Point!Legal, Operations, and Strategy Briefs for Financial InstitutionsNovember 29, 2016
In this edition:
- Deposit Insurance Determination Rule
- FFIEC Revises Its Consumer Compliance Rating System
- ArticleAIRA JournalJune 2016
This article discussed leveraged lending guidelines, unitranche facilities and the risks associated with unitranche facilities, including with respect to “agreements among lenders” as illustrated by the recent case of In re Radio Shack Corporation.
- To the Point!Legal, Operations, and Strategy Briefs for Financial InstitutionsApril 19, 2016
In this edition:
- Recent Action by the OCC of Special Concern for Directors, Senior Managers, and Compliance Officers
- FDIC Provides Additional Guidance on Corporate Governance
- To the Point!Legal, Operations, and Strategy Briefs for Financial InstitutionsMarch 23, 2016
In this edition:
- Use of Property Evaluations
- A Bank Customer’s Guide to Cybersecurity
- Certain Prepaid Cardholders Treated as Customers for CIP Requirements
- Client AlertOCC Anticipates Nearly Half of Outstanding HELOCs Will Reach End-of-Draw Period between 2015 and 2017Client AlertJanuary 2016 (Originally Published August 11, 2015)
The Banking Law Journal republished a Chapman Client Alert.
- To the Point!January 13, 2015
In this edition:
- Student Loan Servicing—Unfair or Deceptive Acts or Practices
- OCC Revises Its Truth in Lending Handbook
- FFIEC Releases Revised BSA/AML Examination Manual
- NACHA Same-Day ACH Processing Proposal
- White PaperOctober 23, 2014
In September 2014, the U.S. banking agencies adopted final rules implementing a liquidity coverage ratio requirement that will test a bank's ability to withstand "liquidity stress periods." In collaboration with the Structured Finance Industry Group (SFIG), Chapman attorneys authored a guide summarizing elements of the final rule that have the greatest impact on the securitization market.
- Chapman InsightsSeptember 10, 2014
On September 3, 2014, the US banking agencies adopted final rules implementing a liquidity coverage ratio (LCR) requirement that will test a bank's ability to withstand liquidity stress periods. The specific objective of the LCR rules is to ensure that a bank has enough high quality liquid assets (referred to as HQLA) that can be immediately converted into cash to meet its liquidity needs for a 30-day stress period.