WASHINGTON — Acting Comptroller of the Currency Michael J. Hsu today issued the following statement in support of the vote by the Financial Stability Oversight Council (FSOC) to issue its Report on Nonbank Mortgage Servicing: I support the issuance of the Financial Stability Oversight Council’s report on nonbank mortgage servicing and its recommendations. Mortgage servicing […]
Tag Archives: Credit
OCC Issues Guidance on ‘Buy Now, Pay Later’ Lending
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today issued guidance to national banks and federal savings associations to address the risks associated with “buy now, pay later” lending. The guidance focuses on the risk management of buy now, pay later (BNPL) loans, which are payable in four or fewer installments and carry no […]