OCC
Otting confirmed for OCC
Joseph Otting was confirmed by the Senate for a five-year term as Comptroller of the Currency Thursday, on a vote of 54-43. Otting, 58, replaces Acting Comptroller Keith Noreika, who was named to that role […]
OCC
Federal financial regulation
Otting takes step closer to head OCC
The confirmation of Joseph Otting to become permanent Comptroller of the Currency took a step closer Wednesday with the Senate voting 54-44 toward a final vote on his nomination. Otting, 58, was nominated by President Donald […]
OCC
Guidance aims to clarify license evaluations for banks with ‘less than satisfactory’ CRA ratings
Evaluating certain types of applications for licenses by banks that have less than satisfactory Community Reinvestment Act (CRA) ratings – or similar ratings in one or more geographic rating areas – is the subject of […]
OCC
Acting comptroller suggests rethinking separation of banking, commerce
The recent financial crisis demonstrated that there is “nothing inherently safer about separating banking and commerce or traditional banking and investment banking,” the acting comptroller of the currency said Wednesday in offering “an alternative to the […]
CFPB
Agencies increase mortgage appraisal threshold to $26k
An exemption threshold amount for appraisals on mortgages will increase to loans of $26,000 or less (from $25,500 or less), according to a final rule to be published by two federal banking regulators and the […]
OCC
Guidance on rehab financing makes ‘real differences’ in communities, acting comptroller says
Flexibility to provide rehabilitation financing in communities with depressed home values offered in August guidance for national banks and federal savings associations is making “real differences in communities that need reinvestment most,” the acting comptroller […]
FDIC
Banking agencies seek additional changes to call reports for June ‘18
Additional revisions to streamline financial institution call reports – by removing or consolidating data items, and adding new, or higher, existing reporting thresholds – is being proposed by the three federal banking agencies. According to […]
CFPB
On arbitration rule repeal, White House mum – acting comptroller chatty
The White House issued no statement in conjunction with President Donald Trump Wednesday signing the repeal of the Consumer Financial Protection Bureau’s (CFPB) “arbitration rule” – but the acting comptroller of the currency had plenty […]
OCC
Comptroller updates bank enforcement action policies, procedures
New bank enforcement action policies and procedures will be effective Dec. 1 from the Office of the Comptroller of the Currency (OCC), with an objective of “enhancing standard processes for initiating, tracking, and resolving enforcement […]
OCC comments due
Annual Stress Test-Technical and Conforming Changes Federal Register summary: The Office of the Comptroller of the Currency (OCC) is inviting comment on a proposed rule that would make several revisions to its stress testing rule. […]