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On November 30, the OCC announced a 10 percent reduction in the marginal rates for assessments on national banks, federal savings associations, and federal branches and agencies of foreign banks for 2019. The OCC projects the change will reduce total assessments collected by more than $90 million in 2019. The change will take effect with the March 31, 2019 assessment period.
Additionally, the OCC announced a change to the refund policy for institutions that leave the federal system during an assessment period. If an institution leaves the federal system during the first half of a semiannual assessment period, the OCC will issue a refund for the second half of the assessment period. If an institution leaves during the second half of an assessment period, the OCC will not issue a refund. As a result of this revised policy, institutions will no longer be required to prepay for three months of supervision after they leave the federal system.
- Daniel P. Stipano to discuss "Lessons learned: Integrating FinCEN’s CDD final rule into compliance programs" during an ACAMS webinar
- Jonice Gray Tucker to discuss "Trends in regulatory enforcement" at the American Bar Association Banking Law Committee Meeting
- Jessica L. Pollet to discuss "Your career is impacting your life..." at the Ark Group Women Legal Conference