The OCC today released its 2016 assessment schedule. Assessments are due March 31 and Sept. 30, based on Call Report information as of Dec. 31 and June 30, respectively, the OCC said. Marginal assessment rates remained unchanged from 2015 due to low inflation. The schedule continues to include a surcharge for national banks, federal savings associations and federal branches and agencies of foreign banks that require increased supervisory resources.
President Trump has signed into law an ABA-championed resolution overturning the CFPB’s limits on overdraft fees.
The CFPB announced it is rescinding dozens of guidance documents on topics such as fair lending, overdraft fees, disclosure policies and consumer information requests to large banks and credit unions.
ABA and other plaintiffs said the court has already recognized that an Illinois law restricting certain interchange fees is preempted by federal law, so it should reject the state’s arguments against the court making a summary judgment in...
President Trump nominated former FDIC Board Member Jonathan McKernan as undersecretary of domestic finance at the Treasury Department. McKernan had been the nominee to lead the CFPB.
Acting Comptroller Rodney Hood outlined his top priorities for the OCC, including efforts to promote financial inclusion and expand the banks’ ability to provide cryptocurrency services.
The Dow Jones Transportation Average, which measures shipping, rail and logistics companies, is exhibiting one of its worst H1 performances in 10 years.
