Latest developments from the Office of the Comptroller of the Currency (regulator of national banks)
The national bank regulator on Tuesday ordered three former Wells Fargo, N.A., executives to pay a combined $18.5 million in civil money penalties (CMPs) for sales practices misconduct, concluding action initiated in 2020 against 11 […]
A statement on supervisory practices affecting banks and credit unions in areas of California ravaged by wildfires was issued Tuesday by federal banking and credit union regulators, along with the California financial institution supervisor. The […]
National banks and federal savings institutions may close in areas affected by the fires in the Los Angeles area, the national bank regulator said Wednesday. The Office of the Comptroller of the Currency (OCC) said, […]
Three banks earned “outstanding” ratings in December for their efforts to make loans in low- and moderate-income (LMI) areas, the regulator of national banks said Thursday. The banks are The First National Bank of Sparta […]
Once again, federal banking agencies said no action will be taken against banks or other firms that sponsor, manage, or advise investment funds and institutional accounts that become principal shareholders of banks. The agencies made […]
Violations and unsafe or unsound practices at one of the nation’s largest banks relating to anti-money laundering (AML) rules and sanctions compliance programs has prompted a cease-and-desist order by the regulator of national banks, made […]
Asset-size thresholds at small and intermediate-sized banks for defining compliance with anti-redlining rules in 2025 were announced Monday by the regulator of national banks. The Office of the Comptroller of the Currency (OCC) said that, […]
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 […]
Two enforcement actions citing fraudulent loan applications by institution-affiliated employees to the federal Paycheck Protection Program created amid the Covid 19 pandemic are among the six December enforcement actions announced Thursday by the national bank […]
A “range of deficiencies” by USAA Federal Savings Bank (FSB) of San Antonio, Texas, are outlined in a “comprehensive” cease and desist order issued by the national bank regulator Wednesday, which also limits the bank’s […]
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