OCC

Banks push back on OCC’s bid to ban lending bias

11/25/20

The industry is asking for more time to comment on a regulatory proposal that aims to prohibit banks from denying services to oil and gas companies and other firms in politically sensitive industries.

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OCC enters new phase of CRA reform with scoring proposal

11/24/20

The plan still lacks concrete details about standards banks must meet to earn high ratings, but the agency said the new methodology would end grade inflation and could penalize banks that underperform.

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JPMorgan fined $250 million for problems in advisory business

11/24/20

The Office of the Comptroller of the Currency says JPMorgan Chase’s fiduciary unit lacked sufficient controls to manage risk and avoid conflicts of interest.

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Oportun is latest nonbank lender to seek a bank charter

11/23/20

The California company, which filed an application Monday with the Office of the Comptroller of the Currency, is following a path charted by Varo Money and SoFi.

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OCC clarifies swap policies, makes other technical updates

11/23/20

The agency said federal thrifts must abide by the same rules as national banks pertaining to membership in payment systems and codified policies on acceptable derivatives practices among a slew of technical changes.

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Regulators grant relief to banks pushed past key asset limits by PPP

11/20/20

Participation in the Paycheck Protection Program and other emergency lending during the pandemic has swelled many small banks’ balance sheets. Federal regulators are giving them a temporary pass on supervisory requirements tied to their size.

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OCC seeks to bar banks from shunning disfavored industries

11/20/20

Some large banks have come under fire from the GOP for curbing services to firms in controversial industries, such as firearms and fossil fuels. A proposal by the Office of the Comptroller of the Currency aims to block banks from taking such stances.

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Trump’s 11th-hour pick to run OCC complicates Biden regulatory agenda

11/19/20

If Congress speeds through Brian Brooks’ confirmation in the waning days of the Trump administration, it could make it harder for President-elect Biden to quickly put his stamp on banking policy.

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White House says it will nominate Brooks to be comptroller

11/17/20

The Trump administration said it has picked Brian Brooks, who has led the Office of the Comptroller of the Currency in an acting capacity, to be considered by the Senate for a five-year term. But it is unclear whether he would stay on during the incoming administration of Joe Biden.

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OCC finalizes measure to eliminate ‘unnecessary’ licensing rules

11/16/20

Among the core changes in the regulation, more national banks will be able to use the agency's expedited review process to approve certain corporate transactions.

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