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Nearly one-third of banks in latest batch of 42 CRA ratings were ‘outstanding,’ agency says

December 1, 2023 0

Of the 42 banks whose Community Reinvestment Act (CRA) evaluation ratings became public in November, 13 of them – nearly one-third of the total – received ratings of “outstanding,” the Office of the Comptroller of the Currency (OCC) said in [...]
Letter to banks notifies of changes to anti-redlining rules; notes compliance dates at starts of ’26, ‘27

December 1, 2023 0

The “updated, modernized” anti-redlining rule, which will begin taking effect in more than two years, is the topic of a financial institution letter sent to banks Friday. The letter from the Federal Deposit Insurance Corp. (FDIC) notifies insured banks that [...]
OCC assessment rates for new year will remain at 2023 levels; no inflation adjustments

December 1, 2023 0

Assessment rates for national banks and federal savings associations for the new year will remain at 2023 levels, the regulator of the banks said Friday. The Office of the Comptroller of the Currency (OCC) said it would maintain the 2023 [...]
Trio of new videos cover cybersecurity, info technology for community banks

December 1, 2023 0

Three new videos covering cybersecurity awareness and information technology aimed at both bank board members and bankers have been released by the federal insurer of banks deposits, the agency said Friday. The Federal Deposit Insurance Corp. (FDIC) said the three [...]
Reflecting extended beneficial ownership reporting for new companies, agency updates guidance materials

December 1, 2023 0

Guidance materials for complying with beneficial ownership information (BOI) requirements, especially for new companies that will be formed in the upcoming new year of 2024, have been updated by the Treasury’s financial crimes enforcement unit, the agency said Friday. According [...]
Bank run risk, depositor behavior and more topics are sought for papers to be presented at June event

December 1, 2023 0

Depositor behavior, bank liquidity, and run risk in the banking system are among the topics for academic research papers being sought by the regulator of national banks which will be presented at an event set for next summer at agency [...]
Group that issued alternative to LIBOR – SOFR – issues final report, declares its conclusion

November 30, 2023 0

The group that spearheaded the transition to an alternative reference rate from the long-used, but now defunct, LIBOR declared itself Thursday over and out as an organization – but not before issuing a final report. The Alternative Reference Rate Committee [...]
Feedback sought on ‘virtual process’ of exams in updated after-action survey

November 30, 2023 0

Additional feedback on the virtual aspects of examinations is sought on an updated post-examination survey issued by the ombudsman for the federal insurer of bank deposits, the agency said Thursday. The survey update, conducted by the Federal Deposit Insurance Corp.’s [...]