OCC – Regulatory Report

What's up

[ June 1, 2020 ] New, acting comptroller enters coronavirus political fray, urging state, local officials to consider impact of ‘lockdowns’ on banking system COVID-19 actions
[ June 1, 2020 ] McWilliams welcomes OCC acting comptroller Brooks to FDIC Board FDIC
[ June 1, 2020 ] Watchdog secured 27 convictions through 55 investigations; collected $3 billion-plus in fines and more, report notes FDIC
[ June 1, 2020 ] Credit union regulator slaps three with prohibitions NCUA
[ June 1, 2020 ] First credit union of 2020 fails; third of year (so far) for federally insured financial institutions FDIC

New, acting comptroller enters coronavirus political fray, urging state, local officials to consider impact of ‘lockdowns’ on banking system

June 1, 2020 0

The “stability and orderly functioning of the financial system” is potentially threatened by local orders of mayors and governors, the acting top federal regulator of national banks said Monday. In letters to groups representing state […]

Rule aims to clarify permissible interest on transferred loans in face of Madden decision

May 29, 2020 0

A bank may transfer a loan without affecting the legally permissible interest term, according to a rule issued Friday by the national regulator of banks, addressing what the regulator called uncertainty created by the Madden […]

Minority depository institutions advisory panel for OCC meets June 17

May 29, 2020 0

A public meeting of the Minority Depository Institutions Advisory Committee (MDIAC) of the Office of the Comptroller of the Currency (OCC) will be held by remote means June 17, the OCC announced Friday. The panel […]

Acting comptroller lists four priorities he intends to address as tenure begins, with a twist on local community investment

May 29, 2020 0

The acting chief regulator of national banks apparently opened his tenure in the job Friday by issuing a statement outlining four priorities he said would guide him in his new role – including how banks […]

After almost a month, interagency policy statement on credit losses accounting (CECL), guidance on credit risk review systems, available Monday

May 29, 2020 0

Nearly a month after they were finalized, a policy statement on credit losses accounting (under the current expected credit losses, or CECL, accounting standard) and guidance on credit risk review systems are both scheduled to […]

On last day of the job, Otting gets a thank you and best wishes from FDIC leader

May 29, 2020 0

On the eve of the Friday departure of the current chief regulator of national banks, the chairman of the board for the federal insurer of bank deposits issued a statement of thanks and best wishes. […]

OCC revises exam guide booklet on sampling methodologies

May 28, 2020 0

A revised “Sampling Methodologies” exam guide booklet has replaced versions previously used in examinations of national banks, federal savings associations, and federal branches and agencies of foreign banking organizations, the Office of the Comptroller of […]

Director, Shareholder, and Member Meetings

May 28, 2020 0

Title: Director, Shareholder, and Member Meetings Subject: Director, shareholder, member meetings Agency: OCC Status: Interim final rule; request for comments Summary: The Office of the Comptroller of the Currency (OCC) is amending its regulations on […]

FAQs attempt to clarify interaction between CRA and coronavirus crisis responses

May 27, 2020 0

Questions, and answers, about the interaction between anti-redlining laws and the impact of the coronavirus crisis were published Tuesday by the federal regulator national banks. In what it called “interagency frequently asked questions” (FAQs), the […]

OCC slates CRA exams of 123 banks in third, fourth quarters

May 27, 2020 0

A total of 123 banks is on the list for third- and fourth-quarter Community Reinvestment Act (CRA) examinations by the Office of the Comptroller of the Currency (OCC), according to a list released Wednesday. Of […]

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New, acting comptroller enters coronavirus political fray, urging state, local officials to consider impact of ‘lockdowns’ on banking system

June 1, 2020 0

The “stability and orderly functioning of the financial system” is potentially threatened by local orders of mayors and governors, the acting top federal regulator of national banks said Monday. In letters to groups representing state and local governments, Acting Comptroller [...]
McWilliams welcomes OCC acting comptroller Brooks to FDIC Board

June 1, 2020 0

The head of the Federal Deposit Insurance Corp. (FDIC) on Monday issued a statement welcoming the acting head of the Office of the Comptroller of the Currency (OCC) to the FDIC Board, noting she looked forward to working with him [...]
Watchdog secured 27 convictions through 55 investigations; collected $3 billion-plus in fines and more, report notes

June 1, 2020 0

Of the 55 investigations opened by the federal insurer of bank deposits’ watchdog, 27 resulted in convictions – and others resulted in fines and restitution of more than $3 billion, the agency said in its report for Oct. 1, 2019, [...]
Credit union regulator slaps three with prohibitions

June 1, 2020 0

Two individuals were prohibited from service at credit unions or other federally insured financial institutions after being sentenced for financial crimes, and a third agreed to a prohibition order after an investigation revealed a theft. The National Credit Union Administration [...]
First credit union of 2020 fails; third of year (so far) for federally insured financial institutions

June 1, 2020 0

The first credit union failure in 2020 was announced Friday by the federal credit union regulator – and the third federally insured financial institution to fail this year so far – as the agency took action to shutter a $7.7 [...]