Latest developments from the Office of the Comptroller of the Currency (regulator of national banks)
A Union City, Calif., banker – alleged to have embezzled more than $800,000 from a Wells Fargo Bank branch over about eight months to cover bets on foreign exchange — has been prohibited from further […]
Credit risk associated with large, syndicated bank loans remains moderate, which includes a decrease in the percentage of loans that deserve management’s close attention, according to a report issued Monday by federal banking agencies. According […]
Updated to add public comment deadline. A proposed rule to “clarify” the authority of national trust banks to engage in non-fiduciary activities in addition to their fiduciary activities is slated for publication in the ˆ […]
Fifteen banks – out of 33 total — were awarded “outstanding” ratings for their compliance with rules implementing anti-redlining laws for evaluations that became public in December, the national bank regulator said Monday. No banks […]
Only the very largest banks – those with $700 billion in assets or more – would be subject to “heightened standards” for gauging threats to the financial system under a proposal issued Tuesday by the […]
U.S. commercial banks and savings associations had $18.4 billion in cumulative trading revenue in the third quarter of this year – $1.8 billion (10.9%) more than the previous quarter and $2.1 billion (12.7%) more than […]
Two federal banking agencies will no longer issue an annual letter to banks outlining their expectations for compliance with insider lending restrictions and related reporting requirements, an effort toward “greater certainty,” they said in a […]
A 2024 amendment to an earlier consent order against Citibank, N.A., was among six terminations of orders issued by the national bank regulator in December and released Thursday. The order terminations were the only enforcements […]
Fifty-five outdated or replaced bulletins and other issuances – including advisory letters, circulars, and more — were rescinded by the national bank regulator Thursday; the issuances were published over a 40-year period, the regulator said. […]
A bank could tailor its anti-redlining examination based on the needs of the community and the products and services the bank offers to serve those needs under proposed guidance unveiled Wednesday by the national bank […]
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