Latest developments from the Office of the Comptroller of the Currency (regulator of national banks)
A new executive order directs federal financial regulators within 90 days to conduct reviews of their rules, processes and other mechanisms that could be updated to facilitate innovation and improve the competitiveness of financial products […]
A revised regulatory ratings system for banks and credit unions will be available for public comment for 90 days, the regulators said late Wednesday as the proposed new scheme was unveiled. The ratings regiment – […]
Exempting national banks from state laws on real estate escrow accounts and payments is the aim of two final rules issued Friday by the national bank regulator. The Office of the Comptroller of the Currency […]
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 […]
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