🚨NEW: The @USOCC and @FDICgov are moving to finalize a rule that would define the term “unsafe or unsound practices” in relation to bank supervision. This term has been undefined for years, and has relied on the broad discretion of bank examiners. The rule would require supervisors to tie alleged unsafe or unsound practices to an actual violation of law or material financial risk, making it harder to use vague reputational or procedural concerns to pressure banks over lawful customers, including crypto companies. It marks another significant step toward unwinding “Operation Choke Point 2.0.”