News Topic: OCC

The Justice Department alleges that the bankers worked with “higher-ranking bank officials” at Washington Federal Bank for Savings in Chicago to falsify records and hide funds prior to the bank's December 2017 collapse. ... Read full article

Even as the bank’s sales practices faced intense government scrutiny following the Wells Fargo scandal, senior leaders in Oregon were fostering a culture that valued credit-card sales above all else, according to several former employees. ... Read full article

The agencies completed steps to ease a community bank capital measure temporarily and to delay a new credit-loss accounting standard. ... Read full article

The OCC’s efforts to bring the technology into the financial mainstream could help people in underserved communities more securely execute payments. ... Read full article

Citigroup’s $900 million payment blunder in a usually sleepy part of the financial market dominated by a handful of banks has experts wondering if regulators will uncover a deeper problem. ... Read full article

A borrower advocacy group is asking federal banking regulators to investigate PayPal and Synchrony Financial, which partner on a product that is used to offer high-cost education financing. ... Read full article

The agency said national banks could close offices “at their discretion” as a safety precaution if they are affected by fires in California and Colorado. ... Read full article

A group of eight Attorneys General filed suit against an FDIC final rule related to ‘rent-a-bank’ partnerships, mirroring a similar suit filed against the Office of the Comptroller of the Currency last month. ... Read full article

The Office of the Comptroller of the Currency is overstepping its authority in granting charters to fintechs and other companies that don’t take deposits. ... Read full article

Jelena McWilliams's term as FDIC chair expires in 2023, and she cannot be removed by an incoming president. But if Joe Biden prevails, he may ask her to stay — and if she does, governing a Democratic-majority board would be a very different ... Read full article

Mary Mack is expected to say that other employees were scared of Carrie Tolstedt, according to the bank’s regulators. Tolstedt, one of five former Wells executives facing civil charges in connection with the bank’s phony-accounts scandal, could be fined as ... Read full article

The bank has begun briefing regulators about how it mistakenly sent payments to creditors of Revlon, the financially strapped cosmetics company. Citi has also filed a lawsuit against Brigade Capital Management seeking to recoup $175 million it sent to ... Read full article

Senate Democrats asked a watchdog to examine whether the bank regulator failed to investigate claims of discrimination against at least six banks. ... Read full article

The federal banking agencies clarified that minor violations of Bank Secrecy Act rules will typically not result in a cease-and-desist order. ... Read full article

Appearing to support decentralized systems, the acting comptroller of the currency said on a podcast that "the ultimate public ownership of the payment rails is when you have a network, like the internet, of interconnected institutions and ... Read full article

Whoever wins the White House in November may have immediate agency openings to fill, while a key decision looms about who will run the Federal Reserve after Jerome Powell’s term expires in 2022. ... Read full article

The regulator announced in June it would use call report data from before the crisis to calculate bank assessment fees in September, a one-time change. ... Read full article

Regulators found fault with the bank’s cloud migration efforts in the years that preceded a 2019 hacking incident. ... Read full article