OCC – Page 59 – Regulatory Report

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[ January 9, 2025 ] Agency recognizes first standard-setting group for ‘open banking;’ conditions apply to five-year approval CFPB
[ January 8, 2025 ] Banks in areas affected by California fires may close, OCC proclaims OCC
[ January 7, 2025 ] Final rule limiting use of medical information by creditors, including eligibility for credit, given green light CFPB
[ January 7, 2025 ] CFPB, citing ‘sham investigations,’ says Experian failed consumers who disputed credit report data; suit seeks redress, fines CFPB
[ January 7, 2025 ] Credit risk, balance sheet management top supervisory priorities in 2025 by credit union regulator NCUA

2021 OCC directors workshops schedule published

January 14, 2021 0

The agency’s schedule of free, virtual workshops for national bank and federal savings association (FSA) board directors was released Thursday by the Office of the Comptroller of the Currency (OCC). The OCC said its examiner-led […]

On last day on job, outgoing acting comptroller finalizes ‘fair access’ rule – 10 days after comment period closes

January 14, 2021 0

A final “fair access” rule codifying that banks should conduct risk assessments of individual customers was issued Thursday by the national bank regulator, just 10 days after the comment period closed. The rule takes effect […]

Acting Comptroller Brooks leaving post Thursday; agency COO to take over, again in acting capacity

January 13, 2021 0

Brian Brooks, the acting comptroller of the currency, on Wednesday said he will leave the Office of the Comptroller of the Currency (OCC) Thursday. The agency said Blake Paulson, currently senior deputy comptroller and chief […]

SD-chartered trust company gets conditional OCC approval for national trust bank charter

January 13, 2021 0

Conditional approval of the conversion of Anchorage Trust Company of Sioux Falls, S.D., to become a national trust bank called Anchorage Digital Bank, National Association (ADB-NA) was granted and announced Wednesday by the Office of […]

UPDATED: Civil money penalty maximums higher in 2021 after inflation adjustments

January 13, 2021 0

Maximum civil money penalty amounts are rising about 1.18% under inflation adjustments made by federal financial institution regulators, with the increased maximums set to apply after Jan. 15. The Federal Deposit Insurance Corp. (FDIC), Federal […]

Computer-Security Incident Notification Requirements for Banking Organizations and Their Bank Service Providers

January 12, 2021 0

Title: Computer-Security Incident Notification Requirements for Banking Organizations and Their Bank Service Providers Subject: Notification incident Agency: FDIC, Federal Reserve, OCC Status: Proposed rule Summary: The OCC, Board, and FDIC (together, the agencies) invite comment […]

Jan. 11 webinar to look at features of new Paycheck Protection Program

January 8, 2021 0

An overview of the new Paycheck Protection Program (PPP) features included in the massive coronavirus crisis relief legislation passed by Congress late last month will be provided in a webinar on Monday (Jan. 11) sponsored […]

Final rule on large banks’ investments in unsecured debt instruments kicks in April 1

January 7, 2021 0

A final rule aimed at limiting the “interconnectedness” of large banking organizations approved by federal banking regulators is set to take effect April 1. Published Wednesday in the Federal Register, the final rule revises the […]

OCC’s Brooks, noting task force’s take on fintech charter, draws a line between chartering and consumer protection functions

January 7, 2021 0

The head of the agency that charters national banks and thrifts on Wednesday welcomed a task force report from the consumer financial protection agency for “endorsing” the need for federal charters for financial technology – […]

OCC proposes rule setting permissibility standards for real estate used as bank, FSA premises

January 5, 2021 0

Standards for determining the permissibility of a bank or federal savings association (FSA) acquiring and holding real estate used as its premises (FSA), and leasing excess space or capacity, would be defined and incorporated in […]

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Agency recognizes first standard-setting group for ‘open banking;’ conditions apply to five-year approval

January 9, 2025 0

A non-profit organization operating in the United States and Canada is the first to be recognized as a standard-setting body for open banking, the federal consumer financial protection agency said late Wednesday. The application by Financial Data Exchange (FDX) to [...]
Banks in areas affected by California fires may close, OCC proclaims

January 8, 2025 0

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, by its proclamation, it expects [...]
Final rule limiting use of medical information by creditors, including eligibility for credit, given green light

January 7, 2025 0

A regulatory exception that previously permitted a creditor to obtain or use medical information, including medical debt information, is removed under a new rule on medical debt collection issued Tuesday by the federal consumer financial protection agency. The Consumer Financial [...]
CFPB, citing ‘sham investigations,’ says Experian failed consumers who disputed credit report data; suit seeks redress, fines

January 7, 2025 0

A lawsuit alleging that consumer reporting agency Experian unlawfully failed to properly investigate consumers’ disputes over information in their credit reports was filed Tuesday by the Consumer Financial Protection Bureau (CFPB). The CFPB said that Experian Information Solutions, Inc. – [...]
Credit risk, balance sheet management top supervisory priorities in 2025 by credit union regulator

January 7, 2025 0

Credit risk, balance sheet management, and risk to earnings and net worth are among the top supervisory priorities for the federal credit union agency in the new year, it said in a letter to the institutions is supervises Tuesday. The [...]
Fed’s top supervisor announces resignation effective next month in advance of new president

January 6, 2025 0

The top regulatory supervisor for the Federal Reserve will step down from his post in late February but will remain on the board of the agency as he continues to fill his board term which runs to the next decade, [...]
CFPB sues Berkshire Hathaway affiliate that it says pushed people into unaffordable mobile home loans

January 6, 2025 0

A suit filed Monday by the federal consumer financial protection agency says that a financing unit of Clayton Homes, Inc. – the largest manufactured home builder in the U.S. and a wholly owned subsidiary of Berkshire Hathaway, Inc. – provided [...]
Eighth largest bank earns ‘outstanding’ rating for CRA compliance in FDIC latest rankings

January 3, 2025 0

Five banks – including eighth largest in the nation — were rated “outstanding” in their lending to low- and moderate-income (LMI) borrowers following examinations for anti-redlining rules; one bank was rated “needs improvement,” according to results for October released Friday [...]