OCC proposal seeks to clarify when banks are ‘true lender’
By 
Aaron Nicodemus2020-07-21T15:45:00
The Office of the Comptroller of the Currency has proposed a rule meant to eliminate ambiguity in federal banking regulations regarding loans made by national banks and their third-party partners.
Related articles
-
ArticleBiden signs off on repeal of OCC’s ‘true lender’ rule
President Joe Biden has signed Congress’ repeal of the Office of the Comptroller of the Currency’s “true lender” rule issued last year in the waning months of the Trump administration.
-
ArticleOCC deems ‘true lenders’ responsible for actions of third-party partners
The Office of the Comptroller of the Currency’s finalized “true lender” rule clarifies how banks are responsible for the compliance obligations and actions of their third-party lending partners.
-
ArticleNew regulatory regimes for U.K. and EU ESG ratings firms could increase compliance costs
Environmental ratings are becoming big business as companies seek proof of sustainable and socially beneficial conduct. Firms that issue ratings on environmental, social and governance (ESG) performance are set to be regulated in the EU and U.K.
More from Regulatory Policy
-
ArticleFRC’s plans for more flexible enforcement gains support
Plans to give the U.K.’s audit regulator more options to regulate firms for sloppy work have been largely well received by experts, who believe the current system is “inflexible,” “cumbersome,” and “slow.”
-
News BriefFDIC eases leverage rules for banks, citing lower risk burdens
The U.S. Federal Deposit Insurance Corporation issued a final rule to change the leverage capital requirements for both large and community banks. The agency said the modification will ”reduce disincentives a banking organization may have to engage in lower-risk activities.”
-
ArticleU.K. Cyber Security and Resilience bill set to regulate critical infrastructure suppliers
Suppliers to the U.K. critical infrastructure will face new regulations to ensure they are protected from cyberattacks. The Cyber Security and Resilience Bill, introduced on November 12, also raises penalties for breaches and expands regulator powers to label certain suppliers as critical.