OCC 'pauses' Fair Access rule

The OCC has announced it has paused publication of its Fair Access Rule, which would have required that large banks provide all customers fair access to their services. The final rule had been announced earlier this month.

The OCC said, "Pausing publication of the rule in the Federal Register will allow the next confirmed Comptroller of the Currency to review the final rule and the public comments the OCC received, as part of an orderly transition." The agency's supervisory guidance stating that banks should avoid termination of broad categories of customers without assessing individual customer risk remains in effect.