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Results 1 - 10 of 555 |
Posted Date: Monday, May 16, 2022
Acting Comptroller of the Currency Michael Hsu stated that the Office of the Comptroller of the Currency (OCC) has joined the Department of Justice (DOJ) and other financial regulators in plans to change bank merger rules.
The DOJ’s Antitrust Division, along with the Federal Trade Commission, began soliciting public comment on the topic earlier this year.
Read on for more details. Read on »
Posted Date: Wednesday, May 11, 2022
Since 1977, the Community Reinvestment Act (CRA) has ensured that banks continue to meet the needs of the communities they are meant to serve by promoting lending in lower-income areas. With only one major update in the mid-1990s, the banking regulators have introduced a proposal to update the CRA to better reflect the changes in the banking and lending industries in the past 30 years.
Read on for more details. Read on »
Posted Date: Monday, May 9, 2022
Acting Comptroller of the Currency Michael Hsu addressed the topic of advancing fair access to quality and sustainable credit at the Black Homeownership Collaborative’s fair housing month forum.
Hsu discussed different programs and initiatives, as well as proposed regulatory changes, that will help increase access to credit and homeownership.
Read on for more details. Read on »
Posted Date: Tuesday, February 8, 2022
The Office of the Comptroller of the Currency promoted one of its lead experts in system risk identification support and specialty supervision to be deputy comptroller for supervisory systems and analytical support.
He will succeed Bob Phelps, who has moved into a new position as well.
Read on for more details. Read on »
Posted Date: Friday, February 4, 2022
Social Finance Inc. has received conditional approval from the Office of the Comptroller of the Currency to create SoFi Bank.
SoFi Bank will be a full-service national bank headquartered in Cottonwood Heights, Utah. As part of the transaction, it will acquire Golden Pacific Bank, which is insured by the Federal Deposit Insurance Corp.
For more details about the conditional approval, read on. Read on »
Posted Date: Tuesday, January 18, 2022
In a statement addressing the Transatlantic Finance Forum’s Executive Roundtable discussion on crypto-assets and regulation, acting Comptroller of the Currency Michael Hsu highlighted the risks of crypto and why regulating the crypto market would be better for investors and for issuers alike.
The popularity of cryptocurrency has increased dramatically in the past five years, despite regulatory and legal uncertainty and instability caused by scams, hacks, and other disruptive events, Hsu said.
Read on for more details. Read on »
Posted Date: Tuesday, January 11, 2022
In the Office of the Comptroller’s annual report to Congress, the agency highlighted the actions it has taken in 2021 on a myriad of issues, including inequality in banking, increasing homeownership and affordable housing, and expanding access to capital for minority-owned and small businesses.
“We remain committed to ensuring that OCC supervised banks operate in a safe and sound manner, meet the credit needs of their communities, treat all customers fairly, and comply with applicable laws and regulations,” acting Comptroller Michael Hsu said.
Read on for more details. Read on »
Posted Date: Monday, January 3, 2022
The Office of the Comptroller of the Currency (OCC) is seeking feedback on its drafted principles meant to address climate-related financial risk management for large banks with more than $100 billion in total consolidated assets.
Any feedback from the OCC’s regulated entities will be used to inform future guidance with respect to this issue. Comments will be received through Feb. 14, 2022.
Read on for more details. Read on »
Posted Date: Wednesday, December 29, 2021
The Office of the Comptroller of the Currency (OCC) issued a final rule rescinding the June 2020 Community Reinvestment Act (CRA).
The OCC announced in May 2021 it was going to reconsider the rule that was meant to modernize the agency’s regulation. Both the Consumer Bankers Association and the Independent Community Bankers of America supported this decision, encouraging an interagency approach to updating the CRA.
Read on for more details. Read on »
Posted Date: Tuesday, December 21, 2021
In its mortgage metrics report for the third quarter of 2021, the Office of the Comptroller of the Currency revealed the performance of first-lien mortgages in the federal banking system improved.
These loans comprise 23 percent of all residential mortgage debt outstanding, an estimated 12.5 million loans totaling $2.59 trillion in principal balances.
Read on for more details. Read on »
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