Page 4 - April 24, 2025 Bulletin

BANKING
ARTICLES

OCC Announces Changes to In separate statements, Harper and Otsuka decried the move,
Organizational Structure which they said undermined the agency’s independence. The
White House has not issued any statements about the firings.
The Office of the Comptroller of the Currency has announced The departures leave only Chairman Kyle Hauptman, Republican
an organizational restructuring that will include combining its appointee, on the three-person board.
Midsize and Community Bank Supervision department with its
Large Bank Supervision department. FDIC Urges Banks to Use Electronic

The new Bank Supervision and Examination department Communications for Supervisory
will encompass activities currently performed by the two
departments, according to an OCC statement. “Blending Correspondence
the large, midsize and community bank supervision activities The FDIC has announced that electronic communications is now
will allow for the seamless sharing of expertise and resources the agency’s preferred method for supervisory correspondence. This
to address bank-specific issues or novel needs and provides decision makes permanent the alternative secure mail procedures
opportunities for career development and progression for the that were initially implemented on a temporary basis in 2020.
agency’s entire examination workforce,” it said.
As part of the announcement, the FDIC released guidance
Greg Coleman, senior deputy comptroller for Large Bank about how to send official correspondence related to supervisory
Supervision, will lead the Bank Supervision and Examination matters to the agency using the FDIC’s secure email portal.
office. Beverly Cole, the senior deputy comptroller for Midsize Most institutions already use these methods of communication,
and Community Bank Supervision, will retire in May. according to the agency. If electronic communications are

Also, as part of the restructuring, OCC will reinstate the Chief not available, financial institutions can continue to submit
National Bank Examiner office which will include the divisions correspondence in hardcopy format, it added.
of Bank Supervision Policy as well as Supervision Risk and Read more: https://www.fdic.gov/system/files/2025-04/supervisory-
Analysis. In addition, the agency is elevating its Information correspondence-procedures-electronic-communication.pdf
Technology and Security function to be led by a new senior
deputy comptroller for ITS. The changes take effect June 2.
FinCEN to Eliminate ‘Redundant’
Read more: https://www.occ.treas.gov/news-issuances/news- Bank Secrecy Act Civil Penalty Rule
releases/2025/nr-occ-2025-34.html
The Financial Crimes Enforcement Network plans to rescind
Trump Removes Harper, Otsuka one of its two rules establishing civil penalties for certain Bank
from NCUA Board Secrecy Act violations, which it said was made obsolete under a
1990 law adjusting the penalties for inflation.
President Trump has removed Democrats Todd Harper and The Treasury Department published a list of rules and regulations
Tanya Otsuka from the National Credit Union Administration that are “no longer necessary” as part of an executive order by
board despite both having several years left in their board terms. President Trump directing agencies to eliminate “unlawful”
Harper was formerly NCUA chairman under President Biden.
regulation. Among the regulations to be rescinded is a FinCEN

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