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The OCC is a US Treasury Department bureau that charters, regulates, and supervises national banks, federal savings associations, and foreign bank branches.
Wise says it has remediated every point of its US AML consent order, after the OCC denied its trust bank charter in July. The $4.2 million order equals 0.6% of a quarter's net revenue; the bigger cost is a charter with no restart date.
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Regulators penalized Bank of America more than $1.21 billion for AML and sanctions failures, and no executive faced criminal charges. Crypto voices led by Binance's Changpeng Zhao say banks and crypto firms are treated differently.
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OCC review of the nine largest national banks found policies that cut off some customers on subjective grounds instead of financial risk. The regulator announced no penalties and said only that it may consider policy changes, mezha.net reported from Reuters.
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Episode Six launched Verified Backing on Oct. 15, adding recorded-backing checks to bank stablecoin issuance and redemption. It says that puts the control at the moment a bank creates or pays out a token, where reconciliation reviews a position only afterwards.
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The SEC unveiled a five-year exemption for stock tokens two days after the Senate's failed CLARITY cloture vote. TD Cowen cautions that agency rules like it are the easiest to rescind, so firms building on it carry that risk.
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OCC found debanking-linked policies at all nine of its largest national banks between 2020 and September 2025. No fines came with the report, but the CFPB announced its own investigation and the OCC is weighing further changes for the largest banks.
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Bank of America's third-quarter net income fell 17% to $6.93 billion after a $1.2 billion anti-money-laundering penalty. Excluding the fine, earnings per share rose 4% to $1.08, while net interest income grew by about $1.2 billion.
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Comptroller Jonathan Gould presented the OCC's debanking report in Lexington beside Senate candidate Andy Barr, weeks before election day. Gould suggested rules may follow. No penalty has been reported.
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Treasury fined Bank of America $1.2 billion over anti-money laundering and sanctions failures, the third-largest penalty in its history. The bank says it has invested billions in compliance. The case tests how far spending alone protects a large bank.
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Fed, OCC and FDIC regulators are questioning banks on guardrails for cyber-defense AI agents, Reuters reported, citing six people. Teams running agents in regulated settings can treat the questions as a preview of the evidence they will need, though no rule or deadline is described.
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Revolut, with more than 80 million customers, says its US offering will be at par with Amex and JPMorgan once it holds a full bank charter. Account features ship first, then cards and loans, with launch targeted for the first half of 2027.
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Fed, OCC and FDIC stepped up oversight of banks' advanced AI on Oct. 13, asking about cyber-defense agents, autonomous systems and kill switches. Crypto Briefing frames the inquiries as information gathering, so exam questions remain an inference.
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American Express must pay a $350 million penalty after US regulators found its AML program let about $13 billion in suspicious activity go under-reported. One order is thin evidence of a sweep, but it shows bank-chartered card issuers what the OCC counts as under-resourcing.
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Samsung Wallet will make USDC its default dollar stablecoin on 82 million eligible U.S. Galaxy devices from late October. The deal gives Circle the default slot and Coinbase custody of the balances, while licensed partner Bastion keeps the customer records and the compliance work.
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American Express's bank drew a $350 million OCC fine for anti-money-laundering failures as the Fed ordered its parent companies to fix controls company-wide. That repair work is the part of the bill Amex has not yet put a figure on.
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SoFi Bank began settling its Mastercard debit and credit card program in its own SoFiUSD stablecoin on September 22, projecting more than $25 billion a year. The revenue case depends on outside banks buying the service through SoFi's Galileo platform, and none has publicly committed.
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Paxos added XRP, a token worth nearly $95 billion, to its Crypto Brokerage platform on October 7, opening it to clients such as PayPal and Schwab. Retail buyers get it only when a partner lists it, a step Schwab's August token plan did not take.
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Rain applied for an OCC trust bank that would issue stablecoins and hold their reserves, three days after community bankers sued to block such charters. If the bankers win, the payments firm's application could sit waiting on the case.
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Comptroller Jonathan Gould gave community banks a direct line to an OCC fraud task force, citing a nearly 300% rise in Minnesota check-fraud SAR filings. Each measure he announced is a reporting or sharing channel that banks choose to use, so its reach depends on how many small banks opt in.
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ICBA's lawsuit challenges the OCC's authority behind 21 national trust bank charters cleared in Trump's second term, 13 of them for crypto companies. With Chevron gone, judges will read the 1978 statute for themselves in a case expected to run for years.
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