Tag: national_banks
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OCC Codifies Bank Discretion for Real Estate Escrow Accounts
The OCC's new final rule clarifies national banks' and federal savings associations' powers to manage real estate lending escrow accounts. It grants them discretion over terms, fees, and customer compensation, applying to all community banks.
BusinessPolitics and GovernmentEconomyBankingLegalReal Estate Office of the Comptroller of the CurrencyReal Estate LendingEscrow AccountsNational BanksFederal Savings AssociationsCommunity BanksFinancial RegulationOffice of the Comptroller of the Currency (OCC)
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OCC Finalizes Rule Preempting State Interest-on-Escrow Laws
The OCC has finalized a preemption determination, allowing national banks greater flexibility on real estate escrow account interest and fees. This ruling overrides state laws, including New York's, affecting all OCC-regulated institutions, including community banks.
Politics and GovernmentBusinessFederal GovernmentState GovernmentsBankingReal EstateLegal Office of the Comptroller of the CurrencyPreemption DeterminationReal Estate EscrowNational BanksState LawsMortgage BankingLaws & RegulationsOffice of the Comptroller of the Currency (OCC)