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30 Oct 2017, 10:32 am
Acting Comptroller of the Currency Keith Noreika released a statement in which he stated that Winter Park is “the first de novo national bank and first de novo approved for federal deposit insurance in Florida since the financial crisis. [read post]
30 Oct 2017, 5:19 am
On October 20, 2017, the Office of the Comptroller of the Currency (OCC) issued Bulletin 2017-43 (the “Bulletin”) outlining principles that OCC-supervised banks should follow to prudently manage the risks associated with offering new, modified, or expanded products and services. [read post]
23 Oct 2017, 11:06 am
The Treasury Department report follows a recent analysis by the Office of the Comptroller of the Currency which, as we reported, found that the arbitration rule will significantly increase the cost of consumer credit. [read post]
20 Oct 2017, 3:10 am
Comptroller of the Currency), The Hill] “Derivative litigation mainly serves as a means of transferring wealth from investors to lawyers. [read post]
18 Oct 2017, 6:38 am
Comptroller of the Currency Keith A. [read post]
2 Oct 2017, 5:50 pm
Most recently, the Office of the Comptroller of the Currency (OCC) claimed restoring consumers’ right to join together in court could cause interest rates to rise as much as 25 percent.12However, examining the OCC’s study, it appears the agency merely duplicated the conclusion reached by the CFPB and based its 25 percent estimate solely on results it admits are “statistically insignificant at the 95 percent (and 90 percent) confidence level. [read post]
2 Oct 2017, 2:14 pm
On September 27, 2017, the Federal Deposit Insurance Corporation, the Federal Reserve Board and the Office of the Comptroller of the Currency announced a proposed rule intended to decrease regulation under these entities’ “regulatory capital rule. [read post]
2 Oct 2017, 7:59 am
Voting in favor were the Secretary of the Treasury, Acting Comptroller of the Currency, Chair of the Commodity Futures Trading Commission (CFTC), chair of the National Credit Union Administration (all Trump designees), along with the Chair of the Federal Reserve Board and the FSOC’s independent member with insurance expertise. [read post]
1 Oct 2017, 3:22 pm
At the federal level, regulators can be clustered in the following areas: Depository regulators—Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), and Federal Reserve for banks; and National Credit Union Administration (NCUA) for credit unions; Securities markets regulators—Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC); Government-sponsored enterprise (GSE) regulators—Federal… [read post]
29 Sep 2017, 6:48 am
In a September 20 report, the Office of the Comptroller of the Currency (OCC) seriously undermined the integrity and completeness of the CFPB’s empirical study of consumer arbitration that purports to be the foundation for its final arbitration rule. [read post]
18 Sep 2017, 2:12 pm
On September 13, 2017, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency jointly released proposed changes to each agency’s Community Reinvestment Act’s regulations relating “Regulation C, which implements the Home Mortgage Disclosure Act[.] [read post]
18 Sep 2017, 2:12 pm
On September 13, 2017, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency jointly released proposed changes to each agency’s Community Reinvestment Act’s regulations relating “Regulation C, which implements the Home Mortgage Disclosure Act[.] [read post]
13 Sep 2017, 6:00 am
Under acting Comptroller Keith A. [read post]
4 Sep 2017, 8:32 am
And the Childresses were not alone; the bank’s own internal audits, as well as an investigation conducted by the Office Of the Comptroller of the Currency, revealed that nearly 130,000 servicemembers and their families were affected by Bank of America’s illegal and deceptive practices, which went on for over a decade.One of the other families affected was Jackie and Raymond Love of Garrett, Indiana, who had a mortgage with Bank of America with an interest rate of 7%… [read post]
31 Aug 2017, 12:59 pm
On August 26, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), and Conference of State Bank Supervisors (CSBS) issued a joint press release urging financial institutions in disaster areas to “work constructively with borrowers in communities affected by Hurricane Harvey. [read post]
24 Aug 2017, 11:34 am
On August 21, 2017, the Office of the Comptroller of the Currency (OCC) published Bulletin 2017-28 regarding higher-loan-to-value (LTV) lending programs (the “Bulletin”). [read post]
24 Aug 2017, 11:09 am
The Office of the Comptroller of the Currency (OCC) has filed a motion to dismiss the lawsuit filed by the New York Department of Financial Services (DFS) challenging the OCC’s authority to grant special purpose national bank (SPNB) charters to nondepository fintech companies. [read post]
22 Aug 2017, 1:56 pm
On August 14, 2017, the US federal banking agencies (Federal Reserve Board (FRB), Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC)) issued interagency guidance on the risk-based capital treatment of certain centrally cleared derivative contracts. [read post]
22 Aug 2017, 6:17 am
” Acting Comptroller of the Currency Keith Noreika, in a letter sent yesterday to House Financial Services Committee Chairman Jeb Hensarling, indicated that the OCC “welcome[d] the recent clarification by the [DOJ] of its position ending Operation Chokepoint” and would “continue to articulate [the OCC’s] position rejecting the tactics and goals of Operation Chokepoint…. [read post]
20 Aug 2017, 9:30 pm
One part of the law, he says, requires formal rulemaking for decisions by the Office of the Comptroller of the Currency (OCC) on whether to preempt state consumer protection laws. [read post]
