Federal bank regulatory agencies today jointly issued an interim final rule that extends the applicability date of certain provisions in their Community Reinvestment Act (CRA) final rule issued in October 2023. The agencies also requested comment on the extension. To promote clarity and consistency, the agencies extended the applicability date of the facility-based assessment areas […]
Category Archives: Office of the Comptroller of the Currency
Acting Comptroller Issues Statement on the FDIC’s Proposed Statement of Policy on Bank Merger Transactions
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today issued the following statement at the Federal Deposit Insurance Corporation’s (FDIC) board meeting concerning the FDIC proposed statement of policy for merger transactions: I support the FDIC’s proposed Statement of Policy on Bank Merger Transactions and its publication in the Federal Register. The proposed Statement of […]
Senior Deputy Comptroller Testifies on Engaging with International Forums
WASHINGTON—Senior Deputy Comptroller for Bank Supervision Policy Grovetta Gardineer today testified on the Office of the Comptroller of the Currency’s (OCC) engagements with international forums before the Committee on Financial Services of the U.S. House of Representatives. In her testimony, Ms. Gardineer discussed the benefits of the OCC’s participation in international forums while maintaining its […]
Registration Open for OCC Project REACh Summit on Financial Inclusion
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced that registration is open for its Project REACh Financial Inclusion Summit on May 29-30, 2024, at its headquarters in Washington, D.C. The OCC’s Project REACh, or the Roundtable for Economic Access and Change, brings together leaders from the banking industry, national civil rights organizations, […]
OCC Announces Enforcement Actions for March 2024
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released enforcement actions taken against national banks and federal savings associations (banks), and individuals currently and formerly affiliated with banks the OCC supervises. The OCC uses enforcement actions against banks to require the board of directors and management to take timely actions to correct the […]
OCC Reports Mortgage Performance for Fourth Quarter of 2023
WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported on the performance of first-lien mortgages in the federal banking system during the fourth quarter of 2023. The OCC Mortgage Metrics Report, Fourth Quarter 2023 showed that 97.2 percent of mortgages included in the report were current and performing at the end of the quarter, […]
OCC to Host Office Hours in San Francisco
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced the Office of Financial Technology (OFT) will hold Office Hours in San Francisco, May 21-22, 2024, to promote responsible innovation in the federal banking system. Office Hours are one-on-one meetings with OCC’s OFT staff to discuss financial technology (fintech), new products or services, partnering […]
OCC Assesses $250 Million Civil Money Penalty Against JPMorgan Chase Bank, N.A. Related to Bank’s Trade Surveillance Program
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a $250 million civil money penalty against JPMorgan Chase Bank, N.A. (JPMC) related to deficiencies in its trade surveillance program. The OCC found that JPMC operated with gaps in trading venue coverage and without adequate data controls required to maintain an effective trade surveillance […]
Agencies Take Temporary Action on Appraisal Requirements in Area Affected by Hawaii Wildfires
To help facilitate recovery efforts from wildfires in Hawaii last year, four federal financial institution regulatory agencies today temporarily paused certain appraisal requirements for real estate-related transactions in Maui County. This temporary action is expected to allow banks and credit unions to work with families and businesses without obtaining an appraisal. Banks and credit unions […]
Acting Comptroller Discusses Operational Resiliency
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed the importance of operational resiliency in remarks at the Institute of International Bankers Annual Washington Conference. In his remarks, Mr. Hsu discussed the growing risks of disruptions that may impede the provision of financial services or adversely impact systems. He also discussed considerations to strengthen […]