OCC: Comments Requested on Proposed Rulemaking and Policy Statement on Bank Mergers
The Office of the Comptroller of the Currency (OCC) today requested comment on a proposal to update its rules for business combinations involving national banks and federal savings associations. The proposal also includes a policy statement to clarify the OCC’s review of applications under the Bank Merger Act (BMA). The proposed rulemaking is part of…
OCC: Notice of Proposed Rulemaking Issued on Business Combinations Under the Bank Merger Act
The Office of the Comptroller of the Currency (OCC) is proposing to amend its rules for business combinations involving national banks and federal savings associations in 12 CFR 5.33 and add as an appendix to 12 CFR 5, subpart C, a policy statement, titled “Policy Statement Regarding Statutory Factors Under the Bank Merger Act,” that…
OCC: 2024 Earned Income Tax Credit Awareness Day Promoted
To increase the awareness of eligible working families about the benefits of the Earned Income Tax Credit (EITC), the Office of the Comptroller of the Currency joins stakeholders across the country in promoting January 26 as EITC Awareness Day. The EITC is a refundable federal income tax credit for low- to moderate-income households. Changes in marital,…
Federal Bank Regulatory Agencies Release Webinar on New CRA Regulations
The federal bank regulatory agencies today jointly issued a pre-recorded webinar on the interagency final rule to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA). The nearly one-hour video provides an overview of the new CRA rule issued on October 24, 2023, and its objectives. Additional topics in the recording include assessment areas, community development, evaluation…
OCC: Public Appraisal Subcommittee Hearing on Appraisal Bias Scheduled for February 13th
The Office of the Comptroller of the Currency (OCC) will host a public hearing of the Appraisal Subcommittee (ASC) on appraisal bias on February 13, 2024, from 10:00 a.m. to 1:00 p.m., at its headquarters, 400 7th Street SW, Washington, D.C. Acting Comptroller of the Currency Michael J. Hsu will provide opening remarks. The subcommittee panel…
Federal Bank Regulatory Agencies Release 2022 Small Business, Small Farm, and Community Development Lending Data
The federal bank regulatory agencies, as members of the Federal Financial Institutions Examination Council (FFIEC), today released data on small business, small farm, and community development lending during 2022. The Community Reinvestment Act regulations require the agencies to annually disclose these data. The FFIEC also prepared aggregate disclosure statements of small business and small farm…
Agencies Release Annual Asset–Size Thresholds Under Community Reinvestment Act Regulations
The Federal Reserve Board and the Federal Deposit Insurance Corporation today announced the 2024 updated asset–size thresholds used to define “small bank” and “intermediate small bank” under their current Community Reinvestment Act (CRA) regulations. The CRA regulations establish the framework and criteria by which the relevant agencies assess a financial institution’s record of helping to…
OCC: Mortgage Performance for Third Quarter 2023 Reported
The Office of the Comptroller of the Currency (OCC) reported on the performance of first-lien mortgages in the federal banking system during the third quarter of 2023. The OCC Mortgage Metrics Report, Third Quarter 2023 showed that 97.3 percent of mortgages included in the report were current and performing at the end of the quarter, the same…