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Legal and Regulatory | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
OCC Law Department The
Office of the Comptroller of the Currency, established in 1863, is a bureau of
the Treasury Department. The Comptroller of the Currency is appointed by the
President and confirmed by the Senate for a term of five years. The Office's
principal function is the supervision of the national banking system. A staff of
over 1,800 bank examiners performs the statutorily required regular examinations
of more than 2,100 banks subject to the Comptroller's supervision. The OCC is in
the forefront of contemporary issues in the financial services industry,
developing banking regulations and legislation to modernize banking law, and
streamlining regulatory processes.
The Law Department, which is managed centrally by the
Chief Counsel's office, consists of seven legal practice areas located in the
Washington headquarters office and general practice offices in each of the four district office locations.
The Chief Counsel's Office (CCO) centrally manages the Law Department. OCC attorneys:
The Administrative and Internal Law Division (AIL) is responsible for providing legal advice relating to the OCC's operation as a federal agency: personnel (compensation and benefits, civil service, EEO); the ethics program; assessments; delegations; financial management; federal information law (including FOIA, Privacy Act, Right to Financial Privacy Act); and contracts and leasing. AIL also administers the entry-level attorney recruitment program.
The Bank
Activities and Structure Division (BAS) provides advice on a broad range of
banking law questions. It advises on bank structure matters arising
in the licensing context such as chartering national banks, branching, operating
subsidiaries, financial subsidiaries, non-controlling investments in other
entities, conversions, mergers and acquisitions, antitrust issues, interstate
operations, change in control, and management interlocks. In addition, BAS
advises on general bank powers and activities, electronic banking, bank-owned
life insurance, real estate and leasing activities, lending limits, interest
rate exportation, bank officer and director issues, affiliate insider
transactions, and bank premises and trade names. Finally, BAS advises on problem bank and resolution matters, voluntary liquidations, conservatorship, receivership, golden parachutes, and other banking law questions arising in a problem bank resolution context. These questions involve interpretation of provisions of law applicable to national banks including the National Bank Act, Federal Deposit Insurance Act, FDIC Improvements Act, Bank Holding Company Act, Bank Merger Act, Change in Bank Control Act, Depository Institutions Management Interlocks Act, Riegle-Neal Interstate Banking and Branching Efficiency Act, Financial Institutions Reform, Recovery and Enforcement Act, Gramm-Leach-Bliley Act, and Sarbanes-Oxley Act.
The Community and Consumer Law Division (CCL) provides legal interpretations and advice on consumer protection, fair lending and community reinvestment issues. The Division is also responsible for legal issues related to the bank community development powers and activities, including activities conducted within the bank, investments in community development corporations and projects, and participation in community development financial institutions.
The
Enforcement and Compliance Division (E&C) is responsible for handling all
non-delegated enforcement actions, including large civil money penalties,
suspensions and removals, temporary cease and desist orders, and other
administrative enforcement actions to assure compliance with federal banking
laws by national banks and officials.
The Division also acts as a liaison with the Department of
Justice on significant referrals for criminal acts involving bank officials and
works closely with the Department and the other bank regulatory agencies on
coordination of law enforcement efforts involving insured financial
institutions.
Robert Pasley Assistant Director Gerard Sexton Assistant Director
Nancy Michaleski Assistant Director/Counsel for International
Activities Stuart Feldstein Assistant Director Mark Tenhundfeld Assistant Director The principal duties of the Litigation Division fall into
six categories: Representing OCC in court Federal courts – in actions
dealing with national bank powers and banking issues, OCC has the statutory
right to represent itself (as opposed to relying on the Department of Justice)
in all federal courts except the Supreme Court. Cases handled by the Litigation
Division in federal courts include such varied subjects as national bank powers,
preemption of state law, claims challenging OCC enforcement and bank resolution
actions, and OCC decisions, orders and regulations. State courts – seldom if ever is OCC a party in state court. Frequently,
however, issues presented in state court touch upon OCC or other federal
regulations, OCC interests, or important elements of national bank powers and
operations. In such cases the Litigation Division often finds it necessary or
helpful to file a brief or letter informing a state court of OCC’s position on
some specific legal issue. Representing OCC in the administrative phase of
personnel –EEO and
MSPB– actions.
Administering OCC’s regulation of 12 C.F.R. Part 4, subpart
C, regarding confidential
supervisory information. This involves analyzing and responding to
requests for such information, responding to subpoenas for such information, and
informing courts of OCC’s regulation in cases where such information is sought
to be obtained directly from a bank or other non-OCC
party. In administrative
enforcement actions brought by OCC’s Enforcement and Compliance Division,
advising the Comptroller
regarding administrative law judge decisions appealed to the Comptroller, and drafting the Comptroller’s
decision document in such instances. Providing litigation risk advice, whenever
requested, on all relevant topics including bank powers, preemption, enforcement
and problem bank resolution, and personnel matters. Preparing the legal memoranda necessary for the
preparation of problem bank resolutions .
The Securities and Corporate Practices Division provides
legal counsel to the OCC and advises banks and the public on a broad range of
federal banking and securities law matters. It provides advice on bank powers, securities
activities, derivatives activities, complex structured finance transactions,
securitization, capital markets activities, fiduciary matters, corporate
governance, director and shareholder issues, corporate activities, functional
regulation, annuities and insurance, debt cancellation contracts, the anti-tying
provisions, and bank investments. SCP provides counsel on corporate applications and notices, including those relating to operating subsidiaries and financial subsidiaries, and regulatory and legislative matters within its areas of expertise. In connection with these activities, SCP addresses questions relating to the National Bank Act, Federal Deposit Insurance Act, FDIC Improvements Act, Bank Holding Company Act, Financial Institutions Recovery and Enforcement Act, Gramm-Leach-Bliley Act, and Sarbanes-Oxley Act. SCP also administers and enforces the federal securities laws affecting national banks that: have securities registered under the Securities Exchange Act of 1934; offer their securities to the public; act as transfer agents; or act as municipal or government securities dealers. The division also serves as liaison with the Securities and Exchange Commission, the National Association of Securities Dealers, and the Commodities Futures Trading Commission.
The District Counsel and their attorneys serve as the OCC’s frontline legal advisors, working directly with bank examiners in the field, assistant deputy comptrollers in Bank Supervision, district licensing staff, and the district deputy comptrollers. District attorneys also advise large and mid-size bank examination teams within the same geographic areas and deputy comptrollers for the large and mid-size banks. They advise these clients on virtually the entire spectrum of banking law issues, frequently dealing with questions that arise during bank examinations and require prompt resolution.District attorneys frequently provide advice to banking companies, bank counsel, and law firms on the most significant aspects of the national bank charter and how particular structures or transactions could be undertaken to solve operational, legal, or financial obstacles to the lawful exercise of the powers of a national bank or to better service customers in a particular market. Further, the District Counsel are the OCC’s frontline legal representatives with respect to U.S. Attorneys’ Offices, state banking departments, and other local offices of federal and state agencies. District attorneys provide legal support on all types of enforcement actions, including formal and informal agency actions against banks, individuals, and other institution-affiliated parties. They also conduct legal training programs for examiners and represent the Law Department as speakers at external seminars for private sector attorneys and at district and large bank outreach meetings. The District Counsel offices prepare a variety of significant enforcement actions, corporate opinions, and legal advisory letters.
214-720-7012
312-360-8805
720-475-7600
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