Cleary Gottlieb Discusses OCC’s Proposed Updates to Digital Banking, Bank Activity Rules

On June 4, the Office of the Comptroller of the Currency published a Proposal to update rules applicable to the activities and operations of national banks and Federal savings associations.  Comments on the Proposal are due August 3.  Simultaneously with the Proposal, the OCC released an Advance Notice of Proposed Rulemaking requesting comment on expanding, updating and improving the regulations and interpretations on digital and electronic activities.  The ANPR is quite open-ended, and we anticipate that comments are likely to take many forms, from direct responses to white papers and research analyses.  Comments on the ANPR are also requested … Read more