Interagency Statement on Community Reinvestment Act Joint Agency Action

The Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) are committed to working together to jointly strengthen and modernize regulations implementing the Community Reinvestment Act (CRA). The agencies have broad authority and responsibility for implementing the CRA. Joint agency […]

OCC: Statement on Rescinding the 2020 CRA Rule

The Office of the Comptroller of the Currency (OCC) today announced it will propose rescinding the Community Reinvestment Act (CRA) rule issued in May 2020 and is committed to working with the Federal Reserve (Board) and the Federal Deposit Insurance Corporation (FDIC) to put forward a joint rulemaking that strengthens […]

OCC: First Anniversary of Project REACh Celebrated

Acting Comptroller of the Currency Michael J. Hsu today marked the first anniversary of Project REACh by hosting participants to celebrate the project’s accomplishments and to challenge them to set their sights even higher over the next two years. “Project REACh has generated a great deal of excitement and made […]

Agencies Request Comment on Proposed Risk Management Guidance for Third-Party Relationships

The federal bank regulatory agencies today requested public comment on proposed guidance designed to help banking organizations manage risks associated with third-party relationships, including relationships with financial technology-focused entities. The proposed guidance is intended to assist banking organizations in identifying and addressing the risks associated with third-party relationships and responds […]

OCC: Organizational Changes Announced

The Office of the Comptroller of the Currency (OCC) today announced structural changes intended to enhance the agency’s efficiency and effectiveness. “The changes announced today will improve collaboration, alignment, and engagement within the agency,” said Acting Comptroller of the Currency Michael J. Hsu. The agency is realigning its Economics, Supervision […]

OCC: CRA Evaluations for 16 National Banks and Federal Savings Associations Released

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 June 1, 2021 through June 30, 2021. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks […]

OCC: New Report Indicates Mortgage Performance Declined in First Quarter 2021

The Office of the Comptroller of the Currency (OCC) reported that the performance of first-lien mortgages in the federal banking system declined during the first quarter of 2021. The OCC Mortgage Metrics Report, First Quarter 2021 showed that 94.2 percent of mortgages included in the report were current and performing at the […]

OCC: Acting Comptroller’s Statement on Vote to Overturn OCC True Lender Rule

Acting Comptroller of the Currency Michael J. Hsu issued the following statement on the U.S. House of Representative’s vote to overturn the agency’s true lender rule. Today, the House voted to overturn the Office of the Comptroller of the Currency’s true lender rule, which was finalized in October of last year. […]

FFIEC: 2020 Data on Mortgage Lending Availability Announced

The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on 2020 mortgage lending transactions at 4,475 U.S. financial institutions reported under the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations, credit unions, and mortgage companies. The HMDA data are the most comprehensive publicly […]

ABA: Regulators to Address Bankers Nationwide at ABA’s Virtual Regulatory Compliance Conference on June 22-24

Top staff from the Federal Reserve, CFPB, FDIC and OCC will address America’s banks during the American Bankers Association’s 35th annual Regulatory Compliance Conference June 22-24. The three-day conference will be held virtually for bankers across the country. During the conference, which will bring together the banking industry’s leading compliance professionals, attendees […]