OCC – Page 18 – 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

Final policy statement urges banks, credit unions to work with all creditworthy borrowers on commercial RE loan workouts, accommodations

July 3, 2023 0

A final policy statement on commercial real estate loan accommodations and workouts, designed to reinforce and build on existing supervisory guidance, was released June 29 by federal banking and credit union regulators. The policy statement, […]

Eight banks earned ‘outstanding’ CRA ratings in spring evaluations; one earned ‘substantial noncompliance’ mark

July 3, 2023 0

Eight banks earned ratings of “outstanding” for their compliance with rules implementing anti-redlining laws, two federal banking agencies said Monday. However, those agencies also reported three banks “need to improve” their compliance with rules implementing […]

Mortgage performance improves for national banks in first quarter; delinquencies decline too

July 3, 2023 0

Slightly more mortgages were performing among national banks in the first quarter of this year compared to the end of 2022, their federal regulator said June 27. According to the Office of the Comptroller of […]

Agencies release ’23 list of distressed, underserved non-metro middle-income geographies for CRA credit

June 23, 2023 0

The 2023 list of distressed or underserved nonmetropolitan middle-income geographies – which assists banks in determining where revitalization or stabilization activities are eligible to receive anti-redlining consideration – was released Friday by the federal banking […]

Proposal on changes to capital likely to consider banks with more than $100 billion in assets following recent failures, FDIC leader tells group

June 22, 2023 0

The federal banking agencies will issue “in the near term” a notice of proposed rulemaking on changes to the U.S bank capital framework to consider how best to incorporate the finalization of Basel III, the […]

OCC updates asset management booklet in supervisory guidance

June 22, 2023 0

The asset management booklet of the Comptroller’s Handbook, a compendium of guidance for federal bank examiners, has been updated to clarify the agency’s expectations regarding fiduciary audit requirements, according to a bulletin Thursday. The updated […]

Credit, operational risk workshops slated next month for bank directors

June 22, 2023 0

Two workshops on credit and operational risk will be held Aug. 1 and 2 in Charlottesville, Va., for national community bank and federal savings association directors, senior management, and other executives, the national bank regulator […]

Comments due Aug. 21 on agencies’ automated valuation models proposal

June 21, 2023 0

A rule proposed in early June that recognizes the increasing frequency of use of automated valuation models (AVMs) by mortgage lenders in determining the value of property is out for comment until Aug. 21, according […]

Quality Control Standards for Automated Valuation Models

June 21, 2023 0

Title: Quality Control Standards for Automated Valuation Models Subject: Residential mortgage valuation Agency: CFPB, Federal Reserve, FDIC, FHFA, NCUA, OCC Status: Proposed rule Summary: The Office of the Comptroller of the Currency (OCC), Federal […]

OCC leader outlines principles for banks, regulators in deploying tokenization, AI

June 16, 2023 0

Banks, and regulators, dealing with potentially transformative innovations like tokenization and artificial intelligence (AI) should consider three principles: innovate in stages, build the brakes while building the engine, and engage regulators early and often, 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 [...]