News Topic: OCC

The civil money penalty from the Office of the Comptroller of the Currency follows a 2015 consent order against the bank, which became a subject of federal questioning after it suspended its business with check cashers. ... Read full article

Bankers say the agencies’ proposed rewrite of the trading ban would do more harm than good, while the Volcker Rule’s most ardent supporters worry the overhaul will enable risky behavior by the largest institutions. ... Read full article

Federal and state regulators are at odds over the Office of the Comptroller of the Currency’s new licensing program, but there are ways to improve current law to appease both sides. ... Read full article

Federal regulators have issued answers to frequently asked questions on appraisal regulations. ... Read full article

The Federal Reserve System is trying to be proactive in these and other high-profile areas, offering educational materials and coaching to bank execs and directors, according to supervision officials at the St. Louis and Richmond Fed banks. ... Read full article

The heavy workload is not limited to implementing the financial regulatory reform bill enacted last spring, as the agencies also work to craft reforms of the Community Reinvestment Act and adjust key capital measures for the biggest banks. ... Read full article

The Office of the Comptroller of the Currency lowered the $14 billion-asset thrift in Cleveland to “needs to improve” from "satisfactory." ... Read full article

The agencies issued a joint statement on the types collaborative arrangements that a bank could employ to make BSA/AML compliance more efficient. ... Read full article

Applications this year are more than double the 2017 mark and the most since 2009. But with some fintechs withdrawing their bids, observers are urging caution. ... Read full article

Banks are being encouraged to offer smaller loans as an alternative to payday products, but their high interest rates can still put consumers in debt. ... Read full article

Financial regulators sought to walk a fine line Tuesday between reassuring Republican senators that they are quickly implementing regulatory relief and defending themselves against Democratic criticism that they are going too fast. ... Read full article

Seven Republican senators urged regulators on Monday to consider additional changes to the Volcker Rule's "covered funds" definition. ... Read full article

Fintechs can get what they need from a traditional bank charter with the FDIC, as long as the agency is willing to play ball and step up its approach to innovation. ... Read full article

Colin Walsh, Varo Money's CEO, learned a lot from his first stab at deposit insurance. Lesson one: Work with one regulator at a time. ... Read full article

The agency has suggested several steps in its notice on reforming the law that could actually harm, not help, underserved communities. ... Read full article

The House of Representatives passed two bills that would tie appraisal waivers for Small Business Administration loans to bank rules for commercial real estate loans, despite objections from the Appraisal Institute about its members being cut out of ... Read full article

The plan identified five risk areas — including cybersecurity — that will be on the agenda for agency examiners next year. ... Read full article

The senator’s bill to reform the 40-year-old law and expand housing investments could gain clout as Democrats look to pick up congressional seats and she eyes a presidential run. ... Read full article