WASHINGTON—The U.S. Department of the Treasury and IRS announced today that 159 million Economic Impact Payments, worth more than $267 billion, have been distributed to Americans in two months. Payments have been sent to all eligible Americans for whom the IRS has the necessary information to make a payment. These totals do not include the […]
Category Archives: U.S. Treasury
Agencies Issue Host State Loan-to-Deposit Ratios
News Release 2020-75 | June 2, 2020 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemFederal Deposit Insurance CorporationOffice of the Comptroller of the Currency The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today issued the host […]
OCC Releases CRA Evaluations for 17 National Banks and Federal Savings Associations
News Release 2020-74 | June 2, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of May 1, 2020 through May 31, 2020. The list contains only national banks, federal savings associations, and insured federal […]
Treasury Targets Maritime Entities for Supporting Illegitimate Maduro Regime in the Venezuela Oil Trade
Washington – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated four companies for operating in the oil sector of the Venezuelan economy. Additionally, OFAC identified four vessels as blocked property. The United States reiterates that the exploitation of Venezuela’s oil assets for the benefit of the illegitimate regime of […]
OCC Sounds Warning About Effects of COVID-19 ‘Lockdowns’ on Banking System
News Release 2020-73 | June 1, 2020 Share This Page: WASHINGTON, D.C.—Acting Comptroller of the Currency Brian P. Brooks today expressed concerns about the effects of regional and local responses to COVID-19 on the federal banking system. In letters to the National League of Cities, the U.S. Conference of Mayors, and the National Association of Governors, […]
Acting Comptroller of the Currency Statement Regarding the ‘Madden’ Rule
News Release 2020-72 | May 29, 2020 Share This Page: WASHINGTON, D.C.—Acting Comptroller of the Currency Brian P. Brooks today released the following statement regarding the Office of the Comptroller of the Currency’s (OCC) final rule to clarify that when a national bank or savings association sells, assigns, or otherwise transfers a loan, interest permissible before […]
OCC Issues Rule to Clarify Permissible Interest on Transferred Loans
News Release 2020-71 | May 29, 2020 Share This Page: WASHINGTON, D.C.—The Office of the Comptroller of the Currency (OCC) today finalized a rule to clarify that when a national bank or savings association sells, assigns, or otherwise transfers a loan, interest permissible before the transfer continues to be permissible after the transfer. Loan transfers help […]
OCC Hosts Minority Depository Institutions Advisory Committee Meeting June 17 Via Remote Means
News Release 2020-70 | May 29, 2020 Share This Page: 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 Wednesday, June 17, 2020, via remote means. The meeting is open to the public and will begin at 10 a.m., […]
Brian P. Brooks Statement on Becoming Acting Comptroller
WASHINGTON — Brian P. Brooks today released the following statement on becoming Acting Comptroller of the Currency. I am deeply honored to serve my country as Acting Comptroller of the Currency and lead this important and prestigious agency during this challenging time. Over the past several months, the federal banking system has been integral to […]
Small Business Administration and Treasury Department Announce $10 Billion for CDFIs to Participate in the Paycheck Protection Program
Washington—Today the U.S. Small Business Administration, in consultation with the U.S. Treasury Department, announced that it is setting aside $10 billion of Round 2 funding for the Paycheck Protection Program (PPP) to be lent exclusively by Community Development Financial Institutions (CDFIs). CDFIs work to expand economic opportunity in low-income communities by providing access to financial […]