Charlotte, NC A federal judge has approved a settlement resolving a wage-and-hour lawsuit accusing Bank of America of failing to pay employees for time spent booting up computers and preparing digital workstations before... Read more »
The Federal Reserve Board (FRB) issued a proposal to revise the large financial institution rating framework as it applies to the “well managed” status of a firm. The FRB believes that the... Read more »
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The Office of the Comptroller of the Currency (OCC) issued Interpretive Letter 1184, clarifying the authority of national banks and federal savings associations to buy and sell assets held in custody on... Read more »
The Federal Reserve Board announced the withdrawal of guidance on bank crypto-asset and dollar token activities, as well as related changes to its expectations for these activities. These withdrawals represent a major... Read more »
The Office of the Comptroller of the Currency (OCC) announced that is no longer examining banks for reputation risk. Source link Read more »
The FDIC issued a Financial Institution Letter (FIL-7-2025), clarifying that FDIC-supervised institutions may engage in permissible crypto-related activities without receiving prior FDIC approval. FIL-7-2025 rescinds FDIC Financial Institution Letter 16-2022, entitled Notification... Read more »
The Office of the Comptroller of the Currency (OCC) issued Interpretive Letter 1183, rescinding OCC Interpretive Letter 1179 and reaffirming the crypto-asset custody, distributed ledger, and stablecoin activities discussed in prior OCC... Read more »
The Federal Deposit Insurance Corporation (FDIC) approved a proposal to rescind its 2024 Statement of Policy on Bank Merger Transactions and withdraw four outstanding proposed rules on brokered deposits, executive compensation, corporate... Read more »
Los Angeles, CA On January 22, Loren Elizabeth Payne filed a class-action California labor lawsuit in Los Angeles County Superior Court alleging that Fifth Third Bank failed to pay wages as required under the... Read more »