The Office of the Comptroller of the Currency today issued a proclamation allowing national banks, federal savings associations and federal branches and agencies of foreign banks to close offices in areas of California affected by wildfires.
The OCC expects only bank offices directly affected by potentially unsafe conditions to close. Those offices should make every effort to reopen as quickly as possible to address the banking needs of their customers, it added.
Economic activity in the manufacturing sector expanded in February for the second consecutive month, according to the Institute for Supply Management.
ABA said that while it supports an OCC proposal to raise the threshold for which its heightened supervisory standards apply to banks, the agency should instead consider rescinding the policy.
Roughly half of U.S. bank customers choose their bank primarily because they trust its security, and two in three would consider switching institutions after a serious data breach at their bank, according to a new survey by IT...
ABA experts point to what is ahead across multiple issues.
SPONSORED CONTENT PRESENTED BY EMPYREAN SOLUTIONS In the banking world, financial planning and analysis (FP&A) is no longer a budgeting task to be completed. It has evolved into a key part of strategic planning, utilized heavily to help...
FinCEN provided tailored exemptive relief for banks related to a geographic targeting order imposing reporting requirements on financial institutions in Hennepin and Ramsey counties in Minnesota.
