OCC Publishes Revised Merchant Processing Booklet

On August 20th, the Office of the Comptroller of the Currency (“OCC”) published a Bulletin on the revised “Merchant Processing” booklet of the Comptroller’s Handbook. The revised booklet, which also covers federal savings associations, provides updated guidance to examiners and bankers on assessing and managing the risks associated with merchant processing activities.

CRA Data Available

On August 19th, the federal banking agency members of the Federal Financial Institutions Examination Council with Community Reinvestment Act responsibilities (the Federal Reserve Board, Federal Deposit Insurance Corporation, and OCC), announced the availability of data on small business, small farm, and community development lending reported by certain commercial banks and savings associations, pursuant to the CRA. Joint Press Release.

OCC Minority Depository Institutions Advisory Committee to Meet

On August 18th, the OCC announced it will host a public meeting of the Minority Depository Institutions Advisory Committee (“MDIAC”) on October 7, 2014. The MDIAC provides advice to the Comptroller of the Currency about minority depository institutions and assesses the current condition of minority depository institutions, regulatory changes that may ensure the health and viability of minority depository institutions, and other issues affecting these institutions. The agenda for the MDIAC meeting will include a review of accomplishments, a discussion of the status of the minority depository institutions, and current topics of interest to the industry. Members of the public may submit written statements to the MDIAC on or before September 29, 2014. OCC Press Release.

Resolution Plan Guidance

On August 15th, the Federal Reserve Board and the FDIC provided additional guidance to firms that will be filing resolution plans for the second time in December 2014. Each plan must describe the company’s strategy for rapid and orderly resolution under the U.S. Bankruptcy Code in the event of material financial distress or failure of the company. Among other things, the agencies released the tailored resolution plan template for 2014. The template focuses on the nonbanking operations of the firm and on the interconnections and interdependencies between the nonbanking and banking operations. The optional template is intended to facilitate the preparation of tailored resolution plans. Joint Press Release.