OCC – Page 2 – Regulatory Report

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[ September 20, 2019 ] WEEK AHEAD: Faster payments thoughts, insights from the Fed, ‘2nd chances’ on the agenda The Fed
[ September 20, 2019 ] Federal credit union agency board sets closed meeting for appeal NCUA
[ September 19, 2019 ] NCUA approves ‘PALs II’ allowing payday-alt loans up to $2,000 for 12 months NCUA
[ September 19, 2019 ] Accuracy of credit, background screening reports up for discussion in December CFPB
[ September 19, 2019 ] Kraninger gives outline of philosophy for bureau at opening of symposia session CFPB

Otting takes his CRA tour to New York, which makes four cities seen so far

August 22, 2019 0

How Community Reinvestment Act (CRA) regulations can promote more lending, investment, and services where they are needed most was discussed by the comptroller of the currency in New York as he continued his tour of […]

Data breach, money laundering info collections proposed for renewal

August 22, 2019 0

Two information collections up for renewal – one on money laundering risk (MLR) assessments and the other on guidance regarding data breaches – will be proposed by the federal regulator of national banks as early […]

Otting hails Volcker Rule revamp, says final rule still protects banking system

August 20, 2019 0

Revisions adopted by two banking agencies Tuesday to the the Volcker Rule, which was put in place generally to prohibit proprietary trading and involvement with hedge funds by certain large banking organizations, will simplify the […]

OCC to give partial assessment refunds to banks leaving by first or third quarterly call report

August 20, 2019 0

A final rule to provide partial assessment refunds to banks that exit the jurisdiction of the Office of the Comptroller of the Currency (OCC) by the day after the date of their first or third […]

Asserting support for ‘strong CRA,’ Comptroller extends tour to Washington

August 19, 2019 0

Continuing a tour that has already been to Atlanta and Baltimore, the top federal regulator of national banks reported Monday on his visit to Washington, D.C., areas that he said have benefitted from anti-redlining laws. […]

Comptroller’s updated accounting advisory series adds FAQs, notes CECL

August 16, 2019 0

An update to its Bank Accounting Advisory Series (BAAS) was issued by the Office of the Comptroller of the Currency (OCC), the regulator said in a release Thursday. And while the BAAS doesn’t comprise official […]

Lies, fake docs used by former bank exec in successful effort to grow his line of credit to $3.9 million

August 15, 2019 0

A former senior vice president of Firstar Bank, N.A., of Sallisaw, Okla., is being charged by federal banking regulators with fabricating documents to grow his line of credit with the bank until it reached $3.9 […]

Otting attends Baltimore event for potential homebuyers, alludes to CRA ‘modernization’

August 14, 2019 0

The types of potential-homebuyer support on display Monday at a nonprofit event in Baltimore “is an example of what we envision” when discussing Community Reinvestment Act (CRA) modernization, Comptroller of the Currency Joseph Otting was […]

Otting offers insights on goals for a ‘modern CRA framework’ following Atlanta visit

August 13, 2019 0

Modernizing anti-redlining community reinvestment rules to clarify what counts for credit under the regulations, updating where activity qualifies, making evaluations more objective, and reporting results in a more timely and transparent manner are all on […]

Fintech, new products, services on agenda for October ‘office hours’

August 12, 2019 0

Financial technology (fintech), partnering with a fintech company, and new products and services will be among the topics under discussion during “innovation office hours” sponsored by the Office of the Comptroller of the Currency (OCC) […]

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WEEK AHEAD: Faster payments thoughts, insights from the Fed, ‘2nd chances’ on the agenda

September 20, 2019 0

Faster payments and speeches from Federal Reserve Board governors highlight the week ahead – along with some credit union comments due for “second chances.” Federal Reserve Board Vice Chairmen Richard H. Clarida and Randal Quarles speak on successive days about [...]
Federal credit union agency board sets closed meeting for appeal

September 20, 2019 0

A board appeal is the single agenda item slated for consideration by the National Credit Union Administration (NCUA) Board during a closed meeting Tuesday (Sept. 24) at 10 a.m. ET. NCUA says the meeting is closed under exemption (8) of [...]
NCUA approves ‘PALs II’ allowing payday-alt loans up to $2,000 for 12 months

September 19, 2019 0

Federally chartered credit unions will be permitted to provide their members “payday alternative loans” (PALs) of any amount up to $2,000, fully amortized over a term of one to 12 months, under a final rule approved Thursday on a 2-1 [...]
Accuracy of credit, background screening reports up for discussion in December

September 19, 2019 0

Issues affecting the accuracy of both traditional credit reports and employment and tenant background screening reports will be under discussion at an “accuracy in consumer reporting” workshop set for the second week of December, sponsored by two federal agencies that [...]
Kraninger gives outline of philosophy for bureau at opening of symposia session

September 19, 2019 0

Given its discretion to create rules for consumer protection in a new space outside of what Congress allows, the federal consumer financial protection agency should approach that responsibility “judiciously cognizant of unintended consequences,” the director of the agency said Thursday. [...]
Four prohibitions (and one pending) among comptroller’s August enforcement actions

September 19, 2019 0

A notice of charges for an order of prohibition and four consent orders for prohibition were issued last month by the Office of the Comptroller of the Currency (OCC), according to a release Thursday by the agency. According to the [...]
FDIC ombudsman office takes over post-exam survey process; one aim is to boost response

September 19, 2019 0

The federal regulatory agency charged with insuring bank deposits has shifted its post-examination process for federally insured institutions to its ombudsman office, according to a Financial Institution Letter (FIL) issued Thursday. The survey was previously administered by the Division of [...]
Fed terminates enforcement action with FL bank holding company

September 19, 2019 0

A 2010 enforcement action with Optimumbank Holdings, Inc., of Fort Lauderdale, Fla., was terminated Sept. 11 by the Federal Reserve Board, the Fed said in a release Thursday. The Fed said Optimumbank Holdings is a registered bank holding company that [...]
Powell: No political interference, negative interest rates ‘not at the top of our list’ of tools for economy

September 18, 2019 0

The independence of the nation’s central bank has served the public well, and the chairman of the bank’s board expects to continue his press conferences following meetings of interest rate policy-setting committees, he said Wednesday. He also said that negative [...]