OCC: Third and Fourth Quarter 2023 CRA Evaluation Schedule Issued
The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the third and fourth quarters of 2023. The OCC encourages public comment on the national banks and federal savings associations (collectively, banks) scheduled to be evaluated under the CRA. Public comments should…
OCC: Acting Comptroller Discusses Financial Inclusion
Acting Comptroller of the Currency Michael J. Hsu today discussed the Office of the Comptroller of the Currency’s (OCC) commitment to a fair and inclusive financial system in remarks at the Bank On National Conference. In his remarks, the Acting Comptroller discussed progress made by the CFE Fund and Bank On partners in improving access…
Banking Agencies Issue Host State Loan-to-Deposit Ratios
Federal bank regulatory agencies today issued the host state loan-to-deposit ratios that are used to evaluate compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. These ratios replace those from June 2022. By law, a bank is generally prohibited from establishing or acquiring branches outside of its home state…
OCC: Guidance Issued on Overdraft Protection Programs
The Office of the Comptroller of the Currency (OCC) today issued guidance to address the risks associated with bank overdraft protection programs. The guidance provides background information on overdraft protection programs and identifies certain practices that may result in heightened risk exposure. These practices include assessing overdraft fees on “authorize positive, settle negative” transactions and…
Interagency Statement on Completing the LIBOR Transition Issued
Sunset of LIBOR as reference rate for many financial products may pose risks to borrowers Today, the Consumer Financial Protection Bureau (CFPB) joined four other federal financial regulatory agencies, along with state bank and state credit union regulators, in issuing a statement that the use of United States Dollar LIBOR (USD LIBOR) panels will end…
OCC: Acting Comptroller Discusses Open Banking
Acting Comptroller of the Currency Michael J. Hsu today discussed the Office of the Comptroller of the Currency’s (OCC) approach to open banking in remarks at FDX Global Summit Spring 2023 in Raleigh, N.C. In his remarks, the Acting Comptroller highlighted the evolution of open banking and its potential impact on the OCC’s supervision in…
OCC: FFIEC’s 2023 “A Guide to HMDA Reporting: Getting It Right!” Released
The Office of the Comptroller of the Currency (OCC) is announcing the issuance of the Federal Financial Institutions Examination Council’s (FFIEC) revised “A Guide to HMDA Reporting: Getting It Right!” (2023 guide). The 2023 guide provides resources to help banks1 comply with the Home Mortgage Disclosure Act (HMDA) and Regulation C, its implementing regulation (12 CFR…
OCC: Agency Promotes National Financial Capability Month
The Office of the Comptroller of the Currency (OCC) encourages national banks and federal savings associations (collectively, banks) to support the financial capability and financial health of their customers, particularly during National Financial Capability Month in April. Banks promote financial capability by supporting programs that expand financial literacy through high-quality financial education and promote access…
OCC: Minority Depository Institutions Advisory Committee Meeting Scheduled for April 25th; Four New Members Appointed
The Office of the Comptroller of the Currency (OCC) today announced it will host a meeting of the Minority Depository Institutions Advisory Committee (MDIAC) and the appointment of four new MDIAC members. The MDIAC meeting will take place on Tuesday, April 25, 2023. The meeting, which will be held in person and virtually, is open…