Latest developments from the Office of the Comptroller of the Currency (regulator of national banks)
Social Finance, Inc., this week obtained preliminary approval of its application to establish a full-service national bank – to be named SoFi Bank, National Association, and based in Utah – from the Office of the […]
A proposal outlining and confirming federal financial institution regulators’ use of supervisory guidance for regulated institutions was issued for a 60-day comment period, the regulators announced Thursday. In individual press releases, the federal banking agencies, […]
The first of what will be semiannual reports on interest rate risk (IRR) data collected during examinations of banks supervised by the agency’s midsize and community bank supervision department was released Tuesday by the Office […]
Determining when a bank is a “true lender” within the context of a partnership between it and a third party is the focus of a final rule issued Tuesday by the federal regulator of national […]
Three interim final rules in place since the spring to mitigate the effects on capital and the liquidity coverage ratio (LCR) in banks making use of certain Federal Reserve emergency funding facilities have been adopted […]
Changes to the supervisory calculation for credit concentration ratios for banks that have implemented new current expected credit loss (CECL) accounting rules are included in the latest version of the Comptroller’s Handbook released Monday by […]
Title: Real Estate Appraisals Subject: Appraisals (coronavirus response) Agency: FDIC, Federal Reserve, OCC Status: Final rule Summary: The OCC, Board, and FDIC (collectively, the agencies) are adopting as final the interim final rule published by […]
Seventeen enforcement orders spanning the months of August to October – including civil money penalties in the hundreds of thousands and millions of dollars – were released Thursday by the Office of the Comptroller of […]
USAA, Federal Savings Bank was assessed an $85 million civil money penalty under a consent order with the Office of the Comptroller of the Currency (OCC) over violations of the Military Lending Act (MLA) and […]
An exemption from the requirements of the customer identification program (CIP) rules for loans extended by banks and credit unions and their subsidiaries to all customers to facilitate purchases of property and casualty insurance policies […]
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