Bills: SB875

Keywords: banking regulation, federal agencies, reputational risk, financial services, supervision, FIRM Act, bank supervision, depository institutions, federal banking agencies, FDIC, OCC, Federal Reserve, NCUA, CFPB, credit unions, Operation Choke Point, financial discrimination, safety and soundness, supervisory guidance, examination manual

Summary: This meeting focused on the markup of the Genius Act and the FIRM Act, two significant pieces of legislation addressing stablecoin regulation and the financial industry's regulatory framework. The Chairman noted the importance of providing clarity to the digital asset community and protecting American consumers, while also promoting innovation and competition within the financial sector. Members of both parties expressed varying viewpoints, with some highlighting concerns related to national security and the potential risks associated with stablecoins.

Transcript Highlights:

• With that said, let’s dive into the OCC. The OCC issued this rule about 10 days ago.
• So the OC service as the OCC says.
• Capital, the OCC.
• The OCC doesn't.
• The OCC gives itself 30 days to determine substantial completeness. The OCC doesn't.

Keywords: 1189, house, all

Summary: The meeting began with roll call and introductions of commission members and guests, followed by approval of the agenda and a motion to approve the February 10 minutes with a correction clarifying that one quoted statement was misattributed. The commission then moved into presentations. The main presentation came from the Conference of State Bank Supervisors on implementation of the federal GENIUS Act for stablecoins. The speaker reviewed the OCC’s recent 367-page proposed rule, noting it raises many open questions and design choices for states, and discussed expected upcoming rulemaking from the FDIC, Federal Reserve, and Treasury. The presentation focused on six areas: permissible issuer activities, reserve assets and redemption, risk management and supervision, treatment of state-qualified issuers, capital/operational backstops, and foreign issuers. It also flagged unresolved issues around Bank Secrecy Act/AML requirements and the meaning of “digital asset service provider” activities. A substantial portion of the discussion addressed yield restrictions, with the presenter explaining the OCC’s broad definition of yield and its rebuttable presumption against issuer-affiliated or related third-party yield arrangements. The speaker said this likely forecloses many existing white-label structures but leaves some room for third-party payments depending on distance from the issuer, and noted ongoing Senate debate over similar provisions. The presentation also covered reserve valuation, liquidity and diversification requirements, redemption timing, and supervisory expectations such as third-party oversight, IT security, exam cycles, and reporting. No additional votes or formal actions were taken beyond approving the amended minutes.

Transcript Highlights:

• Gould, I hope you will end debanking and return the OCC to its true purpose, chartering and supervising
• Before I continue, let me thank Rodney Hood, the acting OCC controller of the OCC.
• Hood has removed references to reputational risk consistent with my firm act from the OCC Bank Examination
• If confirmed to lead the OCC, my top priorities will be ensuring national banks support our economy,
• risk from the Comptroller's handbook, booklets, and other OCC guidance and instructed OCC examiners

Keywords: financial regulations, SEC, Comptroller of the Currency, Federal Transit Administration, nominees, Empowering Main Street in America Act, capital formation, economic growth

Summary: The committee meeting focused on several nominees within key financial institutions, including discussions surrounding the SEC, the Federal Transit Administration, and the Comptroller of the Currency. Notable dialogue included concerns over regulatory balance, with various members emphasizing a need to streamline regulations to foster innovation while ensuring accountability and safety for investors. The importance of the proposed 'Empowering Main Street in America Act' was highlighted as a means to facilitate access to capital for small businesses, underlining the current administration's approach towards financial regulations.

Transcript Highlights:

• In February, a district court... ...law, and the OCC joined in support of the banks.
• We'll see how that OCC order fares in court.
• But I want to make clear, even if this OCC order is upheld, the OCC did not say in its order that Illinois
• The OCC doesn't have jurisdiction over non-banks.
• And so, and that's why the OCC has stepped in. You both have done a great job today.

Keywords: 995, all

Summary: The Special Legislative Commission on the Future of Payments and Sales Transactions by Credit Card and the Impacts for Small Businesses held a public hearing focused on interchange fees, sales tax and tip processing, chargebacks, fraud, surcharging, and the broader future of payment systems. Chair Paul Feeney and co-chair Rep. Jamie Murphy opened by explaining the commission’s charge and inviting testimony from small businesses, industry groups, banks, and policy experts. Representative Sean Garballey testified first, arguing that Massachusetts tourism depends on universal card acceptance and stable interchange, and urging the commission not to disrupt the current system ahead of major events expected to bring millions of visitors to the Commonwealth. A large portion of the hearing featured independent restaurant owners and advocates describing thin margins and the burden of paying percentage-based processing fees on sales tax and tips that are not business revenue. Jen Ziskin, Kristen Canty, Nancy Cushman, Kerry Colzer, and others said restaurants often operate on very small profits and that processing fees on taxes and gratuities can amount to tens or hundreds of thousands of dollars annually. Ryan Lotz also urged reforms to chargebacks, including refunding chargeback fees when merchants prevail, requiring consumers to contact businesses before disputing charges, and limiting repeat abuse. Commission members pressed witnesses on whether tax and tip amounts could be separated at the point of sale, and several witnesses said current consumer card systems do not transmit that level of detail. Testimony from credit union, banking, and payments representatives largely opposed state-level changes that would carve out taxes or tips from interchange, warning of compliance burdens, higher costs, reduced rewards, and possible effects on fraud protection and access to credit. Alex Verine of America’s Credit Unions and Deb Peters and Keely McEwen of the Electronic Payments Coalition said the payment system is complex, that interchange funds fraud prevention and network infrastructure, and that new state mandates could create operational and legal uncertainty. Dan Swanson argued states have authority to act and pointed to Illinois litigation and federal court rulings, while Julian Morris and Brad Popolado emphasized the benefits of card acceptance, the decline of cash, and the need to consider other payment methods and check fraud as well. Several witnesses discussed international payment systems, instant payments, and QR standards as possible future directions. The chairs and members engaged in extended back-and-forth with witnesses about whether Massachusetts could exempt sales tax from swipe fees, whether surcharging should be revisited, and whether vendor compensation or other targeted relief might be more workable than broad changes to interchange. No votes were taken. At the close of the hearing, the chairs said the commission would hold one additional public hearing date to be determined, after which members would begin developing next steps and a report.

Transcript Highlights:

• So those are the two big OCC developments that were issued in response to the IFPOB ruling, and this
• In response to this, more recently the Office of Comptroller to the Currency, most of known as the OCC
• So those are the two big OCC developments that were issued in response to the IF, the IFPOB ruling, and
• I think the next step would be for objectors to the OCC rule to formally file something with the court
• To be clear, there's nothing unusual about what the OCC has done.

Keywords: 995, all

Summary: The Special Commission on the future of payments and sales transactions by credit card heard extensive testimony from credit union, banking, retail, restaurant, and payments-industry representatives about proposals to limit interchange fees, especially on the tax and tip portions of transactions. Several witnesses opposed state-level restrictions, arguing they would create a patchwork of rules, burden state-chartered institutions, raise compliance complexity, and ultimately reduce resources for fraud prevention, cybersecurity, rewards, and access to credit. Others, including retail and merchant advocates, said swipe fees are a significant and growing cost for small businesses and that states should consider reforms such as limiting fees on taxes and tips, allowing surcharging, improving transparency in merchant contracts, and studying collection costs more closely. Witnesses also discussed recent legal and regulatory developments, including Illinois’s interchange-fee law, OCC and NCUA interim rules, and the ongoing Visa/Mastercard antitrust settlement. Industry representatives said the Illinois law has been delayed and is likely preempted for most transactions, while merchant advocates argued the state efforts and court rulings show that networks and banks do not set fees competitively. The proposed antitrust settlement was described by some as a meaningful but limited merchant victory, with temporary fee reductions and expanded surcharge/steering rights, while others said it still falls short of structural reform. The commission members pressed witnesses on the practical effects of fees, the cost of cash, whether merchants can pass costs through, and whether small businesses are actually seeing benefits from the current system. Members repeatedly emphasized the need for a fair middle ground that protects both small businesses and the payment system. No substantive votes or policy actions were taken beyond accepting testimony, and the meeting ended with adjournment after all scheduled witnesses had spoken.

Transcript Highlights:

• The OCC is having to depend on other law enforcement agencies to take these people to jail.
• For a follow-up: Are the enforcement officers that the OCC has, do they receive the same training as,
• And when the OCC stops this truck, and for whatever reason, the guy may be drunk, he may have a felony
• And when the OCC stops this truck, and for whatever reason, the guy may be drunk, he may have a felony
• You know, OCC will not get any more money.

Bills: HB2936, HB2937, HB2951, HB2960, HB2979, HB2980, HB3062, HB3082, HB3087, HB3148, HB3152, HB3262, HB3264, HB3266, HB3268, HB3269, HB3278, HB3299, HB3544, HB3606, HB3678, HB3790, HB3903, HB3996, HB4139, HB4140, HB4142, HB4143, HB4144, HB4260, HB4272, HB4296, HB4324, HB4339, HB4341, HB4342

Keywords: HB2936, children, child protection, adoption, Oklahoma Adoption Code, gestational carrier, gestational agreement, surrogacy, intended parent, preplacement home study, home study, prospective adoptive parent, foster placement, child abuse, child neglect, child sexual abuse, child sexual exploitation, lewd molestation, sex offender registry, Oklahoma Sex Offenders Registration Act

Transcript Highlights:

• So, we chose to pursue a national bank charter under the OCC that would allow us to offer crypto custody
• But in my view, the nail in the coffin was the joint statement from the Fed, FDIC, and OCC in January
• McCauley, Anchorage Digital has the honor of being the only OCC-related federally chartered crypto bank
• Anchorage Digital is both a qualified custodian and has a conditional OCC Bank Charter.
• We did a We appealed to our regulator, the OCC, and let them know that this was happening to us, that

Transcript Highlights:

• I also coordinated between the 12 banks, the 12 district banks, as well as the OCC and the FDIC in that
• And we've seen that with the OCC charter.
• So we're providing significant, I would say, technical assistance directly to the OCC through an MOU
• We've had... ...to the OCC through an MOU that we have with them, enabling them to get online.

Keywords: 993, senate, all

Summary: The Senate Banking Committee met for its first meeting of the session, with Chair James Sanders Jr. and Ranking Member George Borrello opening the hearing and noting a collaborative approach to committee work. The committee first considered and advanced several bills: S.114, which would prohibit state-chartered banks from investing in or financing private prisons; S.2040, which would require money transmitters to provide a consumer warning; S.5473, which would require disclosures in advertisements involving virtual tokens; and S.8406, Sanders’ bill to amend the community bank deposit program. Each bill was moved and approved by committee, with S.8406 passing unanimously. The committee then heard from Caitlin Azar, Acting Superintendent of the Department of Financial Services (DFS), who outlined her background and DFS priorities. She emphasized affordability, consumer protection, stability, and innovation, and discussed DFS-led initiatives in the governor’s budget, including Banking Development Districts, non-bank mortgage CRA regulations, CDFI investment guidance, and consumer restitution. She also said DFS plans to issue buy-now-pay-later regulations in February, expand student lending protections and borrower education, and continue work on insurance affordability, including auto and homeowners insurance reforms, anti-fraud efforts, and discounts tied to telematics, dash cameras, and safe-driving courses. Members questioned Azar about the balance between regulation and access, especially in crypto, buy-now-pay-later, and insurance markets. She said DFS aims to preserve competition while preventing discriminatory or excessive practices, and described existing oversight of virtual currency, including coordination with federal regulators. Another member asked about AI in auto insurance underwriting and pricing; Azar said DFS requires transparency, bias review, governance controls, and consumer recourse, and that credit scores cannot be used to deny or increase rates. The chair also raised concerns about foreclosure in Southeast Queens, improving BDD paperwork and data collection, and increasing the number of state-chartered credit unions. Azar said DFS is working on process improvements, community input, and maintaining open communication with the committee, but no additional votes or formal actions were taken during the DFS hearing.

Transcript Highlights:

• House Bill 4484, this legislation will allow the OCC workers to use...
• This legislation will allow the OCC workers to use state-owned or state-leased vehicles between their
• They all have duties all over the state, but yet OCC has to come back to Oklahoma City to get the car

Bills: HB4409, HB4414, HB4484, HB4486, HB3057, HB2588, HB4434

Keywords: housing, legislative committee, affordable housing, Oklahoma Housing Finance Agency, policy improvement, HB4414, Oklahoma Homebuilder Program, OHFA, single-family housing, homebuilder loans, 0% interest loan, housing finance, workforce housing, Legislative Workforce Housing Committee, housing needs assessment, community housing assessment, disaster recovery housing, federally declared natural disaster, rural housing, urban housing

Transcript Highlights:

• other constituent parts from wastewater, but others in the iodine industry cannot do the same due to OCC
• have those in the iodine industry that are not able to do some of the similar things because of the OCC
• have those in the iodine industry that are not able to do some of the similar things because of the OCC

Keywords: 914, all

Transcript Highlights:

• their office, their scales, one day, and video four trucks driving by in the middle of the day with an OCC
• But I've honestly seen our OCC people pass the seven miles. One was 12 miles one time.

Keywords: 914, all

Transcript Highlights:

• The CEOs said that the regulatory OCC and other regulatory agencies specifically told them to debank
• So where it sits now is we await leadership arriving at the OCC and the FDIC, and that seems to be happening
• Morgan, we would investigate, as could the OCC, the FDIC, and the FTC.
• Eager to get together with new colleagues from the FDIC, new leadership at the FDIC, and the OCC to try

Bills: SB257

Keywords: supply chain resilience, critical supply chains, critical goods, manufacturing, domestic manufacturing, reshoring, nearshoring, supply chain security, supply chain shock, supply chain disruption, critical infrastructure, emerging technologies, semiconductors, microelectronics, artificial intelligence, quantum computing, robotics, advanced manufacturing, blockchain, cybersecurity

Transcript Highlights:

• but as I do understand it, if you go to work in a county courtroom Setting as a court reporter versus OCC
• same, that county clerk reporter has the Opportunity in any given year for much more compensation than OCC

Bills: HB3126, HB3177, HB3311, HB3465, HB3786, HB3915, HB4333, HB4476, HB3403

Keywords: education funding, concurrent enrollment, school aid, Oklahoma State Regents, permanent school funds, higher education, revolving fund, court reporters, salaries, legislation, employment compensation, state administration, Oklahoma, community development, infrastructure, economic development, local government, financing, pooled finance, Oklahoma Emission Reduction

Transcript Highlights:

• And you'll be able to make it directly to Albert at OCC laboriously over many, many hours.
• That will be part of our rulemaking before the OCC later. On.
• Chair, until we actually have a final rule where we know exactly what the OCC has decided.
• And the OCC also declined to prohibit the use Of undisclosed chemicals.
• I represented Guardians in the rulemaking before the OCC, and I don't have any updated figures, Mr.

Transcript Highlights:

• The next one is to pursue a new OCC charter off of the Comptroller of the Currency at the federal level
• Um, this will probably be most true for those who pursue an OCC charter at the federal level.
• the prior presenters: it seems it would apply, sorry, issuers $10 billion or more would go under the OCC
• 11.280> under<01:15:11.600> 10<01:15:11.840> billion<01:15:12.239> have OCC
• Uh issuers under 10 billion have OCC.

Keywords: 912, senate, all

Summary: The Hawaii State Senate Committee on Commerce and Consumer Protection held an informational briefing on digital assets, blockchain, and related regulatory developments. Chair Jarrett Keohoko said the committee was focusing on national and state policy issues around digital assets, while leaving the separate issue of Bitcoin kiosks and fraud to the House Consumer Protection Committee, which had already noticed a similar briefing. No public testimony was taken; the session was for informational updates and member questions. Representatives from the Aptos Foundation, including JC Yun and Michael Cheng, gave a detailed presentation on blockchain basics and Aptos’s technology. They described blockchain as a tamper-resistant digital ledger, explained proof-of-work and proof-of-stake systems, and argued that proof-of-stake networks are faster, cheaper, and more environmentally friendly. They also emphasized smart contracts and potential uses beyond speculation, such as car titles, college transcripts, collectibles, digital IDs, real estate, and other tokenized assets. The presenters highlighted Aptos’s Hawaii connections and said the technology could help local residents and businesses participate in the digital economy. They cited adoption statistics, including billions of transactions on Aptos, tokenized money market funds from major financial firms, micro-lending applications, decentralized cloud infrastructure, and the rapid growth of stablecoins. They acknowledged concerns about scams and consumer protection, but argued that the answer is stronger regulation and education rather than avoiding the technology altogether.

Transcript Highlights:

• Are on the orphan well list at the OCC.
• And when we have discovered those, we've contacted the OCC. We filed a form with them.

Keywords: 914, all

Transcript Highlights:

• The Democrat-led OCC rule was driven more by a progressive ideology against mergers in all sectors of
• They decided that they would fire staff at the OCC and the other bank agencies, making it harder for
• The OCC needs to be able to do everything possible to ensure that they know what these big banks are
• In 2023, the OCC approved, you won't believe this, 22 of 23 mergers within 60 days.
• :05.120> you<04:46:05.360> won't 2023, the OCC approved, you won't 2023, the OCC approved

Keywords: U.S. House of Representatives Floor Proceedings on Tuesday, May 20, 2025, 1012, house, all

Transcript Highlights:

• So we do have three: one under 101, we have land division, then we have OCC, and then I have climate
• So we do have three: one under 101, we have land division, then we have OCC, and then I have climate
• So why aren't you guys—there are some efforts being done by OCC, so this is just climate commission,
• OCC, through their grant program, or through their program, they also are looking at climate, you know
• and dar is Hawaii our our our um OCC and dar is intimately<01:25:19.400> involved<01:25:19.840

Keywords: 912, senate, all

Transcript Highlights:

• Second, there is no funds at OCC to remediate this. In any kind of situation like this.
• Those fiscals come from OCC. So, I thought there might be some money later on. Thank you, Mr.

Bills: SB1191, SB1314, SB1319, SB1333, SB1346, SB1439, SB1509, SB1510, SB1613

Keywords: SB1191, Oklahoma Energy Initiative Act, Oklahoma Low Carbon Energy Initiative Board, low carbon energy, clean energy, energy policy, renewable energy, board repeal, statutory repeal, administrative board, energy committee, natural resources, Oklahoma statutes, 17 O.S. 802.3, groundwater, indemnity fund, well drilling, pollution prevention, regulatory compliance, SB1319

Transcript Highlights:

• We can save $110,000 by just eliminating the office, so I think the OCC should go the way of the penny
• c><01:09:43.400> we're<01:09:43.560> losing<01:09:43.960> the<01:09:44.040> OCC
• <01:09:44.520> is keeping the OCC we're losing the OCC is keeping the OCC we're losing the
• <01:10:02.719> should<01:10:02.920> go the office so I think the OCC should go the
• office so I think the OCC should go the<01:10:03.199> way<01:10:03.360> of<01:10:03.480

Keywords: 928, house, all

Summary: The House Judiciary Committee met in executive session and first took up HB 148, a bill allowing classification by biological sex in limited settings such as multiple-use bathrooms, certain sports, and involuntary commitment facilities. Supporters said it was needed to protect privacy and safety, especially for minors, and argued it was consistent with recent federal and state developments. Opponents said the bill was poorly defined, unnecessary, and could create discrimination or confusion, especially because it did not define “biological sex” in the text. The committee voted 10-8 ought to pass, and the chair said a minority report would be written. The committee then considered HB 254, a bill concerning medical aid in dying. The chair moved ought to pass and described the bill as a matter of liberty for terminally ill patients within six months of death, arguing it should not be treated as suicide. Opponents raised religious, ethical, and policy concerns, including worries about a slippery slope, misuse by vulnerable people, and the effect on death records and public health data. The committee voted 11-7 ought to pass, and the chair said a majority report would be written with a minority report by Representative Perez. Finally, the committee turned to HB 611 with Amendment 2025-0638, a replace-all amendment dealing with recoupment of costs for appointed counsel. The chair explained the amendment would restore the law to its pre-2020 form, allowing the Office of Cost Containment to seek repayment from some recipients of appointed counsel services, including those found not guilty, if they had the ability to pay. Supporters said the prior change had sharply reduced collections and that the state should not treat indigent defendants differently from people who hire private counsel. Opponents argued the policy unfairly bills innocent people and children who were entitled to counsel. The transcript cuts off during debate on the amendment, before a vote is shown.