Agencies Host 2024 National Interagency Community Reinvestment Conference
The federal bank regulatory agencies and the Federal Reserve Banks of San Francisco and Chicago will host the 2024 National Interagency Community Reinvestment Conference in Portland, Oregon, March 4 to 7. The biennial conference offers participants the opportunity to learn about the Community Reinvestment Act (CRA) and to discuss best practices, innovations, and emerging challenges…
OCC: CRA Evaluation Schedule Issued for Second and Third Quarters 2024
The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the second and third quarters of 2024. The OCC encourages public comment on the CRA-related activities of the national banks and federal savings associations (collectively, banks) scheduled to be evaluated under the…
Agencies Issue 2023 Shared National Credit Program Report
Federal bank regulatory agencies today reported in the 2023 Shared National Credit (SNC) report that credit quality associated with large, syndicated bank loans remains moderate. However, the agencies noted declining credit quality trends due to the pressure of higher interest rates on leveraged borrowers and compressed operating margins in some industry sectors. Risks in leveraged…
Federal Bank Regulatory Agencies Seek Comment on Interagency Effort to Reduce Regulatory Burden
The federal bank regulatory agencies today published their first of a series of requests for comment to reduce regulatory burden. The Economic Growth and Regulatory Paperwork Reduction Act of 1996 requires the Federal Financial Institutions Examination Council and federal bank regulatory agencies to review their regulations every 10 years to identify any outdated or otherwise…
ABA: Trade Associations Sue Regulators for Exceeding Statutory Authority in New Community Reinvestment Act Rules
Groups ask court to vacate new CRA rules and will seek preliminary injunction to block implementation until case is decided. The American Bankers Association, the U.S. Chamber of Commerce, Independent Community Bankers of America, Texas Bankers Association, Independent Bankers Association of Texas, Amarillo Chamber of Commerce and Longview Chamber of Commerce today filed a lawsuit in the…
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,…