The Office of the Comptroller of the Currency ("OCC") updated the following booklets of the Comptroller's Handbook: "Bank Premises and Equipment," "Consigned Items and Other Customer Services," and "Litigation and Other Legal Matters."
The updates affect all national banks, federal savings associations, and federal branches and agencies, as well as all other banks that "offer consigned items and other customer services." The updates (i) reflect recent OCC issuances, (ii) incorporate the "integration of federal savings associations into certain regulations," and (iii) clarify "supervisory guidance, sound risk management practices, legal language, [and] the roles of the bank's board or management."
Among other changes, the OCC edited the:
- "Consigned Items and Other Customer Services" booklet to add gift cards as a consigned item product and removed references to the American Savings Promotion Act; and
- "Litigation and Other Legal Matters" for clarity and consistency with (i) booklets in the Examination Process series of the Comptroller's Handbook, (ii) the Compliance Management Systems booklet of the Comptroller's Handbook, and (iii) the OCC Bulletin 2017-43.
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