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 […]
Category Archives: Office of the Comptroller of the Currency
OCC Reports Mortgage Performance for Second Quarter of 2024
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 second quarter of 2024. The OCC Mortgage Metrics Report, Second Quarter 2024 showed that 97.3 percent of mortgages included in the report were current and performing at the end of the quarter, […]
Acting Comptroller Issues Statements at FDIC Board Meeting on Bank Merger Policy and Recordkeeping
Related posts: OCC Announces Executive Assignments in Chief Counsel’s Office OCC Announces Deputy Comptroller for Systemic Risk Identification and Support Acting Comptroller Issues Statement on Financial Stability Oversight Council’s Annual Report Acting Comptroller Issues Statement on FDIC Industrial Loan Company Application
OCC Approves Final Rule and Policy Statement on Bank Mergers
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today approved a final rule updating its regulations for business combinations involving national banks and federal savings associations and a policy statement clarifying its review of applications under the Bank Merger Act (BMA). The final rulemaking is part of the OCC’s effort to enhance transparency around […]
Agencies Extend Comment Period on Request for Information on Bank-Fintech Arrangements
The federal bank regulatory agencies announced today that they will extend until October 30, 2024, the comment period on a request for information on bank-fintech arrangements involving banking products and services. The agencies are seeking input on the nature and implications of bank-fintech arrangements and effective risk management practices. Extending the comment period will allow […]
OCC Issues Enforcement Action Against Wells Fargo Bank
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today entered into a Formal Agreement with Wells Fargo Bank, N.A. The Formal Agreement identifies deficiencies relating to the bank’s financial crimes risk management practices and anti-money laundering internal controls in several areas including suspicious activity and currency transaction reporting, customer due diligence, and the bank’s […]
OCC Allows National Banks and Federal Savings Associations in Alabama, Louisiana, Mississippi and Texas Affected by Tropical Storm Francine to Close
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices in areas of Alabama, Louisiana, Mississippi and Texas affected by Tropical Storm Francine. In issuing the proclamation, the OCC expects that only those bank offices […]
OCC Hosts Minority Depository Institutions Advisory Committee Meeting September 24
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Minority Depository Institutions Advisory Committee (MDIAC) on Tuesday, September 24, 2024. The meeting, which will be hosted in person and virtually, is open to the public and will begin at 8:30 a.m. Eastern Daylight Time (EDT). […]
Acting Comptroller Discusses the Evolution of Bank Supervision
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed the evolution of bank supervision during a presentation at the Joint European Banking Authority and European Central Bank International Conference in Frankfurt, Germany. In his written remarks, Acting Comptroller Hsu offered thoughts on the nature of bank supervision, how and why it has evolved, and […]
OCC Issues Fourth Quarter 2024 and First Quarter 2025 CRA Evaluation Schedule
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the fourth quarter of 2024 and the first quarter of 2025. The OCC encourages public comment on the CRA-related activities of the national banks and federal savings associations (collectively, banks) scheduled to […]