OCC – Page 131 – Regulatory Report

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[ December 20, 2024 ] Three of nation’s largest banks sued for allowing ‘fraud to fester’ on Zelle payment network CFPB
[ December 20, 2024 ] WARM holiday greetings: Agency issues quarterly update to tool for calculating CECL NCUA
[ December 20, 2024 ] FinCEN provides financial institutions ‘red flags’ of potential frauds using FinCEN’s name Other
[ December 20, 2024 ] OCC annual report notes sound banking system, but urges banks to guard against complacency OCC
[ December 19, 2024 ] More than one-third of workers at FDIC witnessed or experienced sexual harassment, report asserts FDIC

10 recommendations floated by GAO for regulators to ease burden, assess mortgage disclosure effectiveness

February 27, 2018 0

The federal consumer protection agency and the federal financial institution regulators are the subject of 10 recommendations made by the congressional watchdog, including assessing effectiveness of mortgage disclosure guidance and reporting rationales for their actions. […]

Revitalizing communities through housing rehabilitation loan programs focus for newsletter

February 27, 2018 0

Revitalizing communities by establishing housing rehabilitation loan programs is the focus of the latest edition of the Investments newsletter published by the Office of the Comptroller of the Currency (OCC). The “Expanding Housing Opportunities: Single-Family […]

GAO: 80% of Southwest banks, concerned with money laundering, ‘de-risking’ by dropping accounts

February 26, 2018 0

A “retrospective review” by banks of their enforcement of anti-money laundering laws is recommended by a congressional watchdog after its survey found an estimated four out of every five (80%) banks near the Southwest U.S. […]

Agencies take next step to combine stress-test reports into one

February 22, 2018 0

Following no comments received last fall, the three federal banking agencies are moving forward on their proposal to combine three separate, yet identical, stress test reports into a single new Federal Financial Institutions Examination Council […]

Workshops for bank directors look at credit, operational risk

February 21, 2018 0

Credit risk and operational risk are the subjects of two workshops to be held in Minneapolis in late March for directors of national community banks and savings associations, presented by the Office of the Comptroller […]

Comment period on swap margin requirement for QFCs to begin

February 20, 2018 0

A 60-day comment period will start as early as Wednesday on proposed swap margin requirements to conform with recent rule changes imposing new restrictions on certain qualified financial contracts (QFCs) of systemically important banking organizations, […]

OCC issues orders for alleged embezzlements, misuse of information

February 20, 2018 0

Personal cease-and-desist orders against three persons at two banks, one in Nebraska the other in Oklahoma, were levied by the Office of the Comptroller of the Currency (OCC) in January, the regulator announced; three civil […]

US Bancorp assessed $275 million in fines, $528 million forfeiture, for money laundering violations

February 15, 2018 0

Penalties of $275 million, and a forfeiture of $528 million, were imposed on one of the nation’s largest banking companies after federal banking and law enforcement agencies determined it was in violation of federal anti-money […]

CRA evaluations from January show 1 bank ‘outstanding’ as Comptroller considers rule changes

February 8, 2018 0

One “outstanding” evaluation, 15 “satisfactory” ratings and no ratings of “needs improvement” or “substantial noncompliance” were noted in January listings for Community Reinvestment Act (CRA) performance evaluations released by the Office of the Comptroller of […]

U.S. arm of big Dutch bank fined $50 million for AML/BSA deficiencies (updated)

February 7, 2018 0

The U.S. arm of a huge multi-national Dutch banking company was assessed a $50 million civil money penalty Wednesday by a federal banking regulator charging deficiencies in the U.S. bank’s anti-money laundering (AML) processes. The […]

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Three of nation’s largest banks sued for allowing ‘fraud to fester’ on Zelle payment network

December 20, 2024 0

Claiming three of the largest banks in the country allowed “fraud to fester” on an online payment provider, resulting in more than $870 million lost by customers over seven years, the federal consumer financial protection agency Friday filed suit against [...]
WARM holiday greetings: Agency issues quarterly update to tool for calculating CECL

December 20, 2024 0

The latest life-of-loan – or Weighted Average Remaining Maturity (WARM) – factors are included in the updated simplified tool for credit unions released Friday to measure credit losses, their federal regulator said. The National Credit Union Administration (NCUA) said for [...]
FinCEN provides financial institutions ‘red flags’ of potential frauds using FinCEN’s name

December 20, 2024 0

An alert about fraud schemes abusing the name, insignia, and authorities of Treasury’s financial crimes enforcement unit for financial gain was issued this week to warn corporations, money services businesses and financial institutions and urge that suspected incidents be reported. [...]
OCC annual report notes sound banking system, but urges banks to guard against complacency

December 20, 2024 0

The federal banking system is sound, but banks were urged to guard against complacency and remain vigilant according to the national bank regulator’s 2024 annual report, issued Friday. The Office of the Comptroller of the Currency (OCC) said the report [...]