As the OCC’s revised Community Reinvestment Act rules took effect today, the OCC issued several compliance resources including a small bank compliance guide, an initial illustrative list of qualifying CRA activities and a form that banks and stakeholders can use to request the addition of an item to the list of qualifying activities.
The American Bankers Association today said it has “serious concerns” about the OCC’s intention to issue a payments charter that would allow non-depository institutions to access the payments system.
The share of current and performing first-lien mortgages in the second quarter of 2020 was 91.1%, down from 96.1% a year ago, according to the Mortgage Metrics Report released by the OCC today.
In an interpretive letter, the OCC gave institutions under its supervision the greenlight to hold deposits that serve as reserves for “stablecoins.”
The OCC today proposed changes to its rules for national bank and federal savings association activities and operations to ensure that they can continue to meet the shifting needs of consumers, businesses and communities.
As reported by several media outlets earlier this week, Comptroller of the Currency Joseph Otting today announced that he would step down from office on May 29.