BPI urged the OCC in a comment letter to withdraw the unworkable proposal, which would create a unique precedent in telling national banks what services they should offer to which customers, under threat of enforcement action. BPI had on Nov. 25 requested an extension of the unusually short comment period for the proposal. A reversal of banking system norms deserves full public transparency, as expected in a fair, balanced rulemaking process. BPI also made a FOIA request on Dec. 1 from the OCC seeking the data underpinning the policy. The OCC denied the extension request and has not provided the information sought in the FOIA request.
Bank Activities and Structure
BPI Statement Before the U.S. House Financial Services Committee’s Subcommittee on Digital Assets, Financial Technology and Inclusion
BPI Statement Before the U.S. House Financial Services Committee’s Subcommittee on Digital Assets, Financial Technology and Inclusion
Bank Activities and Structure
BPI Statement Before the U.S. House Financial Services Committee’s Subcommittee on Financial Institutions and Monetary Policy
BPI Statement Before the U.S. House Financial Services Committee’s Subcommittee on Financial Institutions and Monetary Policy
Bank Activities and Structure
Coalition of Trades Comment on Negative Implications of SEC Custody Rule
Coalition of Trades Comment on Negative Implications of SEC Custody Rule
Custody Services
The Lone Ranger in a Town Full of Sheriffs: How the SEC’s Aggressive Agenda Interferes with the Business of Banking
The Lone Ranger in a Town Full of Sheriffs: How the SEC’s Aggressive Agenda Interferes with the Business of Banking
Bank Capital and Stress Testing
U.S. Bank Capital Levels: Aligning With or Exceeding Midpoint Estimates of Optimal
U.S. Bank Capital Levels: Aligning With or Exceeding Midpoint Estimates of Optimal
Central Bank Digital Currency
BPI’s Paige Pidano Paridon Testifies on CBDC Before House Subcommittee
BPI’s Paige Pidano Paridon Testifies on CBDC Before House Subcommittee