OCC

Fintechs shouldn’t be granted easy outs on CRA

01/04/21

The next administration must halt the practice of allowing new entrants into the banking system to forgo a full Community Reinvestment Act exam.

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OCC approves LendingClub acquisition of Radius

12/31/20

The regulator's order moves the San Francisco-based company one step closer to becoming the first online lender to own a bank.

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Has the OCC become too politicized?

12/30/20

Bank regulators traditionally steer clear of more divisive debates in a polarized Washington. But some observers worry acting Comptroller Brian Brooks has gone too far by wading into issues such as public health orders and banks' decisions to curtail services to the gun and fossil fuel industries.

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Oportun's bid for bank charter meets resistance

12/30/20

Several consumer advocacy organizations have urged the Office of the Comptroller of the Currency to deny the online lender's application for a national bank charter, citing concerns about its lending and debt-collection practices.

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OCC again overreaches on preemption law

12/28/20

Brian Brooks, the acting comptroller of the currency, used a selective (and dubious) interpretation of the Dodd-Frank Act to argue for more say on when banks can preempt state law.

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OCC’s preemption letter opens new front in battle with states

12/23/20

In the waning days of the Trump administration, the agency issued a new legal theory of its power to let national banks evade state consumer protection laws. But some state attorneys general and consumer groups charge the federal regulator is attempting to sidestep restrictions imposed by Dodd-Frank.

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New lawsuit from states over OCC power targets Figure application

12/23/20

The Conference of State Bank Supervisors filed a complaint arguing that the unique bid by the San Francisco fintech is "merely a thinly veiled effort" to evade legal challenges to the federal regulator's chartering of nonbanks.

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OCC proposes to let certain banks skip money-laundering reports

12/17/20

The agency said it may exempt certain institutions from having to file suspicious activity reports if they have “innovative solutions intended to meet Bank Secrecy Act requirements more efficiently and effectively." But in those circumstances, law enforcement may still require SARs.

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'Seriously delinquent' mortgages remain elevated, OCC says

12/16/20

The percentage of seriously-delinquent loans hit 5.8% in the third quarter, up from 1.5% a year earlier but down from 6.8% in the second quarter.

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Banks would have 36 hours to report cyberattacks under proposed rules

12/15/20

Federal banking agencies want to give the industry a hard deadline for notifying their regulators about serious security breaches and failed system upgrades.

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