Latest developments from the Office of the Comptroller of the Currency (regulator of national banks)
One crime is outlined by the national bank regulator to comply with an executive order demanding federal agencies reduce “overcriminalization” of their rules, in a report issued Friday. In compliance with Executive Order (EO) 14294, […]
A sound understanding of artificial intelligence (AI) possible risks — and benefits — that can assist with cybersecurity functions are among the top threats and opportunities facing banks, according to a report issued by the […]
Six banks were deemed “outstanding” under the anti-redlining Community Reinvesment Act (CRA), and 15 were “satisfactory,” according to the latest list of rating released by the national bank regulator. The ratings for this batch of […]
Six banks earned ratings of “outstanding” – out of 21 banks evaluated — for their compliance with rules implementing anti-redlining laws, according to April performance evaluations released Monday by the national bank regulator. The remaining […]
Updated to provide deadline for comments. Two interim final actions aimed at preempting an Illinois statute governing non-interest charges and fees, including interchange fees on the tax and tip portion of credit card transactions, were […]
Community banks will have “greater flexibility to use a simpler measure of capital adequacy and reduce regulatory burden” under a final rule issued Thursday by federal banking regulators. According to the agencies, the rule modifies […]
Alleged, illegal inducements to deceive customers to obtain “cash out” loans on their homes have led a Chicago bank to consent to pay restitution for high origination fees and increased monthly payments, the national bank […]
Proposals to revise bank capital requirements will be up for discussion during a “meet the regulators” session set for May 5 by all three federal banking regulators, the agencies said Tuesday. The proposals aim to […]
A rule that would, among other things, have federal bank and credit union regulators “consult” with the Financial Crimes Enforcement Network (FinCEN) on certain anti-money laundering/countering the financing of terrorism (AML/CFT) actions was issued Tuesday […]
A final rule to eliminate the use of reputation risk from programs for bank supervision was issued jointly Tuesday by two federal prudential banking regulators. The Federal Deposit Insurance Corp. (FDIC) – which approved the […]
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