To increase use of the Earned Income Tax Credit by qualified working families, the OCC promoted EITC Awareness Day on January 25. With only 80 percent of eligible taxpayers claiming the EITC, the OCC encouraged banks to educate their local communities about the credit. In addition, the OCC suggested that banks provide low-cost products and
The OCC yesterday announced revisions to its guidelines on recovery planning for the large financial institutions it regulates. Specifically, the agency has increased the threshold at which banks are covered by the guidance from $50 billion to $250 billion, and it has decreased the time within which a bank should comply with the guidelines from
The share of current and performing first-lien mortgages in the second quarter of 2018 remained largely unchanged from a year prior at 95.6 percent — compared to 95.4 percent a year ago, according to the Mortgage Metrics Report released today by the OCC. The report is generated from data from seven large national banks representing 33