OCC Details SBA Lending Program Risks
The OCC today issued a bulletin for community banks engaged in Small Business Administration lending activities.
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OCC Issues Supplemental Exam Procedures on Remittance Transfers
The OCC this week issued supplemental exam procedures on remittance transfers.
OCC Names Climate Change Risk Officer, Joins Network for Greening Financial System
The OCC today announced that Darrin Benhart has been tapped to serve as climate change risk officer at the agency, a newly created position focused on promoting climate change risk management at banks.
Agencies Signal Joint Community Reinvestment Act Overhaul to Come
Acting Comptroller of the Currency Michael Hsu today announced that his agency will propose to rescind changes to the Community Reinvestment Act regulations that were finalized in May 2020, and signaled the OCC’s intent to work together with the Federal Reserve and the FDIC on a separate joint rulemaking to overhaul the CRA framework.
OCC to Expand Regional Efforts for Project REACh
As the OCC observes the one-year anniversary of Project REACh—an initiative bringing together a broad range of stakeholders to address barriers to financial inclusion—Acting Comptroller of the Currency Michael Hsu announced that the program will expand its regional focus to three new areas: Washington, D.C., Dallas and Detroit.
OCC: Mortgage Performance Declines in First Quarter
The share of current and performing first-lien mortgages in the first quarter of 2021 was 94.2%, down from 96.5% a year ago, according to the Mortgage Metrics Report released by the OCC today.
OCC Working With Tech Firms on Credit Score Alternatives
OCC is working to find nontraditional ways to establish a good credit history for those with no credit.
Agencies Take Risk-Based Approach to Racial Equity and Fair Lending Oversight
Panel during ABA’s Regulatory Compliance Conference discussed was how the Biden administration’s focus on racial equity could alter agencies’ approach to governance and oversight.
House Votes to Repeal OCC ‘True Lender’ Rule
The House today voted 218 to 208 to repeal the OCC’s “true lender” rule.
OCC’s Hsu: Addressing Appraisal Bias Requires ‘Collective Effort’
Acting Comptroller of the Currency Michael Hsu told attendees at a CFPB roundtable today that banks are being held accountable when they rely on housing appraisals that are discriminatory.