Joseph Otting

Societal upheaval strengthens case to expand CRA to nonbanks: Ludwig

06/22/20

Former Comptroller of the Currency Gene Ludwig says making online lenders, credit unions and other nonbanks comply with the Community Reinvestment Act would be a powerful tool in addressing racial and economic injustices.

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House Democrats launch bid to overturn OCC's CRA rule

06/11/20

The lawmakers are attempting to block the regulation reforming the anti-redlining rule under review powers granted to Congress, but the move is largely symbolic with the Senate and White House controlled by the GOP.

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Ex-OCC chief Otting to join board of software company

06/08/20

Former Comptroller of the Currency Joseph Otting landed a post with Black Knight, which provides technology solutions to mortgage and real estate companies.

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House passes PPP revisions; on Otting's day of departure, a CRA reflection

05/29/20

The bill, which now goes to the Senate, would give small businesses greater flexibility in how they use the funds; not everyone's on board with Otting's signature achievement.

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PPP guidance, Santander's settlement, Wells' virus response: Top stories of the week

05/22/20

The SBA and Treasury Department release more guidance on PPP loan forgiveness; Santander Consumer reaches $550M settlement with state AGs; how Wells Fargo's tech chief is managing coronavirus response; and more from this week's most-read stories.

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OCC was right to finalize CRA rule on its own

05/22/20

If the agency hadn’t revised the 1977 law now, nothing would be done for communities in need that are struggling even more in the coronavirus pandemic, writes Faith Bautista, CEO of the National Diversity Coalition.

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Otting makes it official; Morgan Stanley's Gorman: Hold the stock buybacks

05/22/20

The comptroller of the currency will be replaced by his COO, Brian P. Brooks, on an acting basis; CEO James Gorman says the economy needs to be on steadier ground first.

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Community groups plan to sue OCC over CRA rule

05/21/20

The National Community Reinvestment Coalition, California Reinvestment Coalition and Democracy Forward accuse the agency of “unlawfully gutting” the historic anti-redlining law.

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Brian Brooks will become acting comptroller of the currency

05/21/20

Joseph Otting will step down May 29 as head of the OCC and turn the reins over to Brooks, a former financial services industry executive who worked with Otting at OneWest.

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Fannie, Freddie capital goals raised; credit card, auto loans eroding

05/21/20

The FHFA says the two government-sponsored enterprises need at least $240 billion of capital before they can go private; Transunion says more than 3% of consumer loans it tracks are in financial hardship.

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