Tag: office_of_the_comptroller_of_the_currency
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Comptroller Gould Abstains from FDIC Vote, Citing Flaws in Resolution Planning
Comptroller Jonathan V. Gould abstained from an FDIC vote on resolution plans, citing "fundamental issues" and an "extralegal process." He advocates for significant reforms to address flawed planning and burdensome requirements.
BusinessPolitics and GovernmentEconomyBankingFederal GovernmentLegalFinancial Markets Jonathan V. GouldOffice of the Comptroller of the CurrencyFederal Deposit Insurance CorporationResolution PlanningDodd-Frank ActBanking RegulationFinancial ServicesOffice of the Comptroller of the Currency (OCC)
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OCC Releases May 2026 Enforcement Actions, Citing BSA/AML Failures and Fraud
The OCC announced May 2026 enforcement actions, including a consent order for Community Federal Savings Bank over BSA/AML deficiencies and a prohibition order against a former JP Morgan Chase associate for unauthorized withdrawals. Several previous actions were also terminated.
BusinessPolitics and GovernmentLaw EnforcementFederal GovernmentBankingLegal Office of the Comptroller of the CurrencyEnforcement ActionsFinancial RegulationBank Secrecy ActAnti-Money LaunderingFraudOffice of the Comptroller of the Currency (OCC)
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FFIEC Proposes CAMELS Rating System Revisions for Enhanced Financial Risk Focus
The FFIEC seeks public comment on proposed CAMELS rating system revisions. The changes aim to focus on material financial risk and boost transparency for national banks and federal savings associations, with comments due 90 days post-Federal Register publication.
BusinessPolitics and GovernmentUSA Federal Financial Institutions Examination CouncilCAMELS rating systemFinancial riskRegulatory revisionsPublic commentOffice of the Comptroller of the CurrencyBankingOffice of the Comptroller of the Currency (OCC)
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Comptroller Gould Backs CAMELS Revisions, Cautions on "Double Counting"
Comptroller Jonathan V. Gould supports FFIEC's CAMELS rating system revisions for financial risk focus but raises concerns about "double counting" in the Management component and disproportionate composite ratings, urging public feedback.
BusinessPolitics and GovernmentEconomyBankingFederal GovernmentLegal Jonathan V. GouldOffice of the Comptroller of the CurrencyFederal Financial Institutions Examination CouncilCAMELS rating systemFinancial RegulationRisk ManagementOffice of the Comptroller of the Currency (OCC)
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OCC Announces 2026 Workshop Series for Community Bank Leaders
The OCC is offering workshops for community bank directors and senior management throughout 2026, focusing on risk management, governance, and compliance to strengthen operations and support economic vitality.
BusinessPolitics and GovernmentBankingFinancial MarketsEconomyFederal GovernmentEducation Office of the Comptroller of the CurrencyCommunity BanksRisk ManagementBanking WorkshopsFinancial ServicesJonathan V. GouldBusiness EducationOffice of the Comptroller of the Currency (OCC)
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OCC Advances Regulatory Relief for Community Banks to Boost Economic Growth
The OCC is implementing reforms to reduce regulatory burden on community banks, tailoring supervision, simplifying capital calculations, and updating examination guidance to support their economic growth role.
Politics and GovernmentBusinessFederal GovernmentBankingEconomyComputers and Internet Community BanksRegulatory ReformOffice of the Comptroller of the CurrencyBanking SupervisionEconomic DevelopmentCommunity Bank Leverage RatioCybersecurityOffice of the Comptroller of the Currency (OCC)
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OCC Finalizes Rules on Escrow Accounts, Affirms Federal Preemption Over State Laws
The OCC finalized two rules on real estate escrow accounts, emphasizing federal preemption over state laws regarding interest payments and fees. This aims to reduce burden, increase lending, and provide clarity for banks.
BusinessPolitics and GovernmentFederal GovernmentState GovernmentsBankingLegalEconomy Office of the Comptroller of the CurrencyReal Estate LendingEscrow AccountsFederal PreemptionNational BanksFederal Savings AssociationsNew YorkOffice of the Comptroller of the Currency (OCC)
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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)
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Federal Reserve Approves United Texas Bank's Supervisory Conversion
The Federal Reserve Board has approved United Texas Bank's request to switch its supervisory authority. The Dallas-based bank will now be overseen by the Office of the Comptroller of the Currency, marking a significant regulatory change.
BusinessPolitics and GovernmentBankingFederal GovernmentEconomy Federal Reserve BoardUnited Texas BankOffice of the Comptroller of the CurrencyBank ConversionRegulatory OversightDallasU.S. Federal Reserve
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OCC Spring 2026 Report Highlights Strong Banking System Amid Cyber and Real Estate Risks
The OCC's Spring 2026 report highlights a strong federal banking system with improved earnings and high liquidity. However, the agency warns of ongoing risks from commercial real estate, sophisticated cyber threats, and geopolitical strains on compliance systems.
Politics and GovernmentBusinessScience & TechnologyBankingEconomyFederal GovernmentReal EstateLegalArtificial Intelligence Business and FinanceOffice of the Comptroller of the CurrencyCybersecurityCommercial Real EstateRisk ManagementOffice of the Comptroller of the Currency (OCC)