OCC: CRA Evaluation Schedule Issued for First and Second Quarters 2021
The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the first quarter and second quarter 2021. The OCC encourages public comment on the national banks and federal savings associations scheduled to be evaluated under the CRA. Public comments should be submitted…
OCC: Proposed Rule Issued Regarding the CRA General Performance Standards
The Office of the Comptroller of the Currency (OCC) today invited comment on a notice of proposed rulemaking regarding the Community Reinvestment Act’s (CRA) general performance standards. The OCC published a final rule in June 2020 to strengthen and modernize the agency’s regulations under the CRA to encourage banks to engage in more activities to serve the…
OCC: Proposed Rule Would Ensure Fair Access to Bank Services, Capital and Credit
The Office of the Comptroller of the Currency (OCC) today proposed a rule to ensure fair access to banking services provided by national banks, federal savings associations, and federal branches and agencies of foreign bank organizations. The proposal would codify more than a decade of OCC guidance stating that banks should provide access to services,…
Interim Final Rule Provides Temporary Relief to Community Banking Organizations Due to Coronavirus Response
The federal bank regulatory agencies on Friday announced an interim final rule that provides temporary relief for certain community banking organizations related to certain regulations and reporting requirements as a result, in large part, of their growth in size from the coronavirus response. Community banking organizations are subject to different rules and requirements based on…
OCC: Statement on the President’s Intent to Nominate Brian P. Brooks to Serve as Comptroller of the Currency
Acting Comptroller of the Currency Brian P. Brooks released the following statement upon the announcement that President Donald J. Trump intends to nominate him to serve as the 32nd Comptroller of the Currency. It is a great honor to have President Donald J. Trump announce his intent to nominate me to serve our nation as the…
OCC: Key Provisions of the June 2020 CRA Rule and Frequently Asked Questions
Summary The Office of the Comptroller of the Currency (OCC) published in the Federal Register on June 5, 2020, a final rule1 (June 2020 rule) that strengthens and modernizes the agency’s regulations under the Community Reinvestment Act (CRA). This bulletin summarizes key provisions of the June 2020 rule, which became effective October 1, 2020. This bulletin provides responses…
OCC: Report on Key Risks, Effects of COVID-19 in Federal Banking System
The Office of the Comptroller of the Currency (OCC) today reported the key issues facing the federal banking system and the effects of the COVID-19 pandemic on the federal banking industry in its Semiannual Risk Perspective for Fall 2020. Banks remain in strong financial condition but profitability is stressed due to low interest rates and increasing…
CFPB: Agencies Propose Regulation on the Role of Supervisory Guidance
Five federal financial regulatory agencies today invited comment on a proposal outlining and confirming the agencies’ use of supervisory guidance for regulated institutions. The proposal would codify the statement, as amended, that was issued in September 2018 by the agencies that clarified the differences between regulations and guidance. Unlike a law or regulation, supervisory guidance…