On February 8, judicial rulings came out on two separate cases in the Northern District of California involving rulemakings issued in 2020 by the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC). The plaintiffs – California, Illinois, and New York – alleged the FDIC and OCC rulemakings violated the Administrative Procedure Act. These claims were rejected by the court when it ruled in favor of the Federal Agencies.
The court rulings align with the argument made in amicus briefs filed in the OCC and FDIC cases. Tuesday’s rulings represent a successful culmination of efforts by SFA members. If you have any questions on the court cases, please contact the SFA Team.