The ASC of the Federal Financial Institutions Examination Council (FFIEC) amended the following sections of the ASC Rules of Operation: 1. Section 3.04.a to provide for selection of a Vice Chairperson by ASC members with the Vice Chairperson's term of office running concurrently with the Chairperson's term; 2. Section 1.02(8) to define ``Vice Chairperson'' consistent with section 3.04.a; and 3. As a technical correction, Section 1.02(3) to remove the reference to the Office of Thrift Supervision (which became part of the Office of the Comptroller of the Currency July 21, 2011). 4. The definition of ``member agency'' footnotes the amendment to section 1011 of the Federal Financial Institutions Examination Council Act by the Dodd-Frank Act to include designees of the heads of the Bureau o...
..., the federal Office of the Comptroller of the Currency (Comptroller or OCC) and a banking... the Comptroller erred by extending the definition of visitorial powers to include prosecuting enforc...
This Essay discusses two historical parallels between the current financial crisis and the financial crisis of the late 1920s and 1930s. First, financial innovation was at the core of both crises. In particular, the machinations of Ivar Kreuger illuminate how financial innovation tends to outstrip the ability, and perhaps the willingness, of investors and intermediaries to process information. Second, reliance on credit ratings began as a response to the 1929 crash and became a primary cause of the recent crisis. During the 1930s, regulators developed rules based on credit ratings; those rules are the ancestors of today's widespread regulatory reliance on ratings. Without financial innovation and overreliance on credit ratings, the recent crisis likely would not have occurred, and certa...
...Treasury Department and Comptroller of the Currency jointly adopted credit ratings as ... suddenly failed the Comptroller's new definition of "investment securities," and therefore could no...
...714 (1986) 478 U.S. 714. BOWSHER, COMPTROLLER GENERAL OF THE UNITED STATES v. SYNAR, MEMBER OF ... "the totality of the Act's standards, definitions, context, and reference to past administrative pra...
Maryland housing authorities, which own and manage affordable housing at the local level, might soon be allowed to partake in a special business venture popular in the private market due to its legal flexibility. House Bill 960, introduced Feb. 9, would allow housing authorities to form limited liability companies, or LLCs, a kind of business entity that acts like a cross between a corporation and a partnership. LLCs limit the accountability of its members to an entity's particular assets and do not have the restrictions of a corporation, such as prohibiting foreign shareholders or membership in an affiliated group, according a definition from the state comptroller's Web site. Without this tool, development is more cumbersome and restrictive and costly, said Dennis Nicholson, executive ...
The Department of the Treasury is proposing to amend the Department of the Treasury Acquisition Regulation (DTAR) to implement use of the Internet Payment Platform, a centralized electronic invoicing and payment information system, and to change the definition of bureau to reflect the consolidation on July 21, 2011 of the Office of Thrift Supervision with the Office of the Comptroller of the Currency.
... is that there is no consensus on a definition of predatory lending. Engel and McCoy (2001) provi... a decision by the Office of the Comptroller to reduce the predatory lending regulatory burden ...
During a Senate hearing last month, Comptroller General David M. Walker told the Homeland Security and Governmental Affairs Committee that they need to re-look at when and under what circumstances is it appropriate to be contracting, and when is it not. He was describing a redefinition of the scope of "inherently governmental" functions -- tasks that are "so intimately related to the public interest" that federal employees must perform them. These two simple words, the definition of which has not changed significantly in more than 15 years, could be the key to determining how much the government should rely on private industry for generations to come. Recently, a plan by the General Services Administration to add acquisition support services to the Mission Oriented Business Integrated S...
...MNB's definition of the public interest is inadequate as it exclude...
...DICKINSON, COMPTROLLER OF FLORIDA, ET AL. CERTIORARI TO THE UNITED STAT... Banks to the effect that state law definitions of what constitutes "branch banking" must control ...
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