Latest developments from the Office of the Comptroller of the Currency (regulator of national banks)
No changes are necessary to Bank Secrecy Act/anti–money laundering (AML/BSA) compliance programs designed to follow the 2016 Customer Due Diligence (CDD) rule because of the Jan. 1 effective date for the new beneficial ownership information […]
Data on smallbusiness, small farm, and community development lending during 2022 was released Wednesday by the federal banking regulators, part of their annual obligation under federal anti-redlining laws. According to the fact sheet released by […]
Fines totaling $36 million were announced Tuesday against the fifth largest bank firm in the nation for “illegal conduct” during the coronavirus crisis related to access and payment of unemployment benefits, two regulators said. In […]
Action will continue not be taken against banks or other firms that sponsor, manage, or advise investment funds and institutional accounts that become principal shareholders of banks, federal banking regulators said Friday. An interagency statement […]
Nine prohibitions against former bank workers were revealed by the regulator of national banks Thursday, with three of those coming after the bankers were convicted of money laundering. The Office of the Comptroller of the […]
Commercial banks and savings associations reported a cumulative $13.2 billion in third-quarter trading revenue, down 3.4%, or $470 million, from the second quarter but up 3.7%, or $474 million, from the third quarter of 2022, […]
Data on the performance of first-lien mortgages loans serviced by seven national banks with large mortgage-servicing portfolios shows 97.3% of the loans were current and performing at the end of the third quarter, unchanged from […]
Efforts to assess certain large banks’ climate-related risk management are already underway, with the national bank regulator reporting in its fiscal 2023 annual report Monday that it was already conducting “exploratory” reviews. This statement by […]
Higher interest rates are increasing credit risk to the nation’s banks, including in commercial real estate, the federal regulator of national banks said Thursday, noting that “key performance indicators are beginning to show signs of […]
Risks associated with “buy now, pay later” (BNPL) lending programs are addressed in guidance issued Wednesday by the regulator of national banks. The guidance, according to the Office of the Comptroller of the Currency (OCC), […]
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