News Topic: OCC

The Financial Services Committee will also hold hearings next month on monetary policy, the CFPB and "astroturfing" worries, among other things. ... Read full article

Critics of the OCC have long maintained that the agency was too close with the San Francisco bank. A watchdog's assessment of what transpired between 2009 and 2017 is expected to be completed late this spring. ... Read full article

Comptroller of the Currency Joseph Otting upset some House Democrats when he was a no-show at a previous oversight hearing. They will now get a chance to question him about the future of the Community Reinvestment Act. ... Read full article

An outside paper identifies the statutes, regulations and other bureaucratic realities complicating the banking agencies’ efforts to oversee and benefit from rapidly changing technology. ... Read full article

Documents released by the Office of the Comptroller of the Currency Thursday allege that senior leaders had reason to know that the wrongdoing was widespread but failed to act. ... Read full article

Community development financial institutions could stand to gain from efforts to modernize the Community Reinvestment Act, but they fear the proposal offered by regulators may end up draining their capital. ... Read full article

Former CEO John Stumpf agreed to pay a $17.5 million penalty while ex-community banking chief Carrie Tolstedt faces a potentially $25 million fine for sales-practices misconduct. Other former officials could face fines totaling $16 million. ... Read full article

The comptroller of the currency stood firm in defense of his agency's proposal, saying skeptics of various parts of the draft framework do not have their facts straight. ... Read full article

The OCC said Citigroup's main bank subsidiary violated the Flood Disaster Protection Act by not ensuring that borrowers with homes in flood hazard areas had insurance coverage. ... Read full article

The two agencies cited geopolitical tensions in issuing the warning and best practices tips, though they stopped short of referring directly to the recent U.S. clashes with Iran. ... Read full article

The House Financial Services Committee chair asked two regulatory agencies about what steps they've taken to prevent fabricated comment letters as they invite the public to weigh in on Community Reinvestment Act changes. ... Read full article

As the regulatory agencies have struggled to reach a consensus, a proposal championed by Office of the Comptroller of the Currency has divided lawmakers and been assailed by community groups. ... Read full article

Lawmakers advanced legislation that would require banking regulators to give annual testimony to lawmakers and would mandate regular reports on cybersecurity efforts. ... Read full article

More than two years after efforts began to modernize enforcement of the Community Reinvestment Act, regulators appear far apart on how to proceed. ... Read full article

Though she stopped short of mentioning the FDIC and OCC by name, Fed Gov. Lael Brainard objected to several key elements of those agencies' proposal. ... Read full article

Native American leaders are cheering the proposal, which would give banks Community Reinvestment Act credit for making loans made on reservations, even if the lands sit far outside their assessment areas. ... Read full article

The prospects of a potential Democratic sweep of the 2020 elections could spur regulators to quickly finalize changes to the Community Reinvestment Act. ... Read full article

House Financial Services Committee Chairwoman Maxine Waters announced she will hold two hearings in January to examine a proposal to overhaul the Community Reinvestment Act. ... Read full article