News Topic: OCC

An examination of industry sales tactics conducted after the Wells Fargo scandal found that credit card accounts (not checking or savings) were the largest source of account openings without customer permission. ... Read full article

Five agencies issued a final rule that established swamp margin requirements with restrictions on certain qualified financial contracts. ... Read full article

The Office of the Comptroller of the Currency has been taking the lead on a federal license for fintech firms, but the central bank will decide if such companies can access the payments system and other benefits. ... Read full article

The changes mandated by the recent regulatory relief law would narrow the definition of "high-volatility commercial real estate" exposures that get a higher risk weight. ... Read full article

The comptroller of the currency argues that special-purpose fintech charters will benefit consumers and businesses, despite opposition. ... Read full article

The state's banking regulator and the Conference of State Bank Supervisors are reviving litigation after the Office of the Comptroller of the Currency said it would accept charter applications. ... Read full article

Washington Federal in Seattle allowed Anchor Bancorp to find another buyer after BSA issues forced it to withdraw its merger application. ... Read full article

State regulators said Wednesday they will refile a lawsuit against the OCC, attempting to block the agency's new federal bank charter for fintechs. ... Read full article

U.S. Bank’s announcement that it will begin offering small installment loans could open the door for other financial institutions to offer them as an alternative to pricey payday loans. ... Read full article

The Senate Banking Committee said it is postponing a hearing on the implementation of regulatory relief for "logistical reasons." ... Read full article

Regulators will continue to issue guidance to articulate general views on appropriate practices, but they will not issue enforcement actions based on violations. ... Read full article

The nation's fifth-largest bank on Monday rolled out a three-month consumer loan that is far less expensive than the typical payday loan. The move comes as regulators are encouraging banks to reach out to the subprime market, which they largely ... Read full article

The proposed rule is another step in the agency's implementation of a regulatory relief bill that President Trump signed into law in May. ... Read full article

The former head of the agency said the proposed changes to the enhanced supplementary leverage ratio will make banks vulnerable to disruption and failure. ... Read full article

In a report, the watchdog said the economic environment and competition instead have driven trends in small business lending. ... Read full article

The OCC required the company to raise more capital and complete a CRA plan. Varo Bank still needs FDIC and Fed approval before opening. ... Read full article

The agencies had proposed revisions designed to make compliance less complex, but banks have expressed concern that the plan could have the opposite effect. ... Read full article

How the 'Best Banks to Work For' get employees to love their jobs; Comerica works to address fraud in prepaid benefits program; how to tell if you're banking a pot business; and more from this week's most-read stories. ... Read full article