Tax Refund-Related Goods: Risk Management Gu

Tax Refund-Related Goods: Risk Management Gu

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Ceos of all of the National Banks and Federal Savings Associations, Department and Division Heads, All Examining Personnel, and Other Interested events

Overview

Any office of this Comptroller associated with the Currency (OCC) is issuing this guidance to outline security and soundness measures that national banking institutions and federal cost savings associations (collectively, banking institutions) should follow when they provide income tax refund-related services and products. This guidance replaces OCC Bulletin 2010-7 (18, 2010), which transmitted the “OCC Policy Statement on Tax Refund-Related Products, ” but does not supersede or amend any other OCC issuances february.

Note for Community Banks

This guidance relates to all OCC-supervised banks offering income income tax refund-related items.

Features

The guidance outlines security and soundness measures banking institutions should follow when they provide income tax refund-related services and products. Those measures consist of

  • Making sure the lender’s board of directors keeps risk that is sound policies, procedures, and methods to oversee all income tax refund-related services and products. […]