News Topic: OCC

Her comments signaled cooperation between the two agencies on a coming proposal to revamp the Community Reinvestment Act, but she raised questions about CRA assessment areas and developing a single compliance metric. ... Read full article

Alternative data "may improve the speed and accuracy of credit decisions and may help firms evaluate the creditworthiness of consumers," the agencies said. ... Read full article

The Financial Crimes Enforcement Network and other regulatory agencies confirmed that the recent legalization of the substance eases banks' anti-money-laundering requirements. ... Read full article

The agency’s director previewed a policy for companies under enforcement action to have their orders terminated if they comply ahead of schedule. ... Read full article

The fintech firm, which had made prior attempts to offer a federally insured consumer account product, said it has “no plans at this time” to become a bank. ... Read full article

Bank regulators are considering a bypass to the 2015 court ruling governing loan sales that would ultimately offer more credit options to entrepreneurs. ... Read full article

A proposal to modernize the Community Reinvestment Act could be just a snippet of what regulators try to accomplish as they wrap up 2019. ... Read full article

A 10% cut next year, which will be identical to the fee reduction this year, is projected to save the industry about $85 million next year. ... Read full article

The Comptroller of the Currency said the Federal Reserve had disagreements with the metrics of a pending proposal to revamp the Community Reinvestment Act. ... Read full article

Rules related to custody banking, commercial real estate and derivatives were among the last required under last year’s regulatory relief law. ... Read full article

In recent months federal regulators have been speaking out on the risks that extreme weather events pose to the financial system, something their European counterparts have been doing for some time. ... Read full article

The 2015 decision posed new legal challenges for institutions trying to sell loans to third parties, but the federal regulatory agency proposed Monday steps for banks and debt parties to evade state interest rate caps. ... Read full article

Former Comptroller Thomas Curry, who initially proposed the special charter now blocked by a judge, calls on policymakers to find another way to regulate financial tech startups. ... Read full article

The financial policy views of progressive candidates atop the presidential field are sure to worry bankers, but it would be difficult for any new president to implement sweeping regulatory changes. ... Read full article

The FDIC and the Fed have yet to sign on to the plan; this year’s managing director class includes fewer overall, but a higher percentage are women. ... Read full article

After others have hinted the three bank regulators may part ways on a Community Reinvestment Act proposal, Federal Reserve Chairman Jerome Powell told lawmakers a “common answer” is the ideal outcome. ... Read full article

The three federal bank regulators usually try to issue rules jointly, but Comptroller of the Currency Joseph Otting on Tuesday pointed to areas where the agencies may move on separate paths. ... Read full article

Many in the industry have cheered regulators’ interest in improving the supervisory rating system, but they may shy from commenting publicly about their experiences in a confidential process. ... Read full article