The share of current and performing first-lien mortgages in the fourth quarter rose to 96.3%, up from 93.3% a year ago, according to the Mortgage Metrics Report released by the OCC today.
To help banks develop more efficient and effective Bank Secrecy Act compliance programs, the OCC finalized a rule that would allow the agency to issue exemptions from Suspicious Activity Report requirements in certain circumstances.
Speaking at the ABA Washington Summit, Acting Comptroller of the Currency Michael Hsu today ramped up his rhetoric urging banks to reconsider their overdraft products.
For midsize and community banks, it will be a number of years before OCC examiners conduct climate risk management examinations.
Acting Comptroller of the Currency Michael Hsu has been added to the speaker lineup for ABA’s Washington Summit, a free in-person and virtual event to be held March 7-9.
The OCC, Federal Reserve and FDIC plan to issue a CRA notice of proposed rulemaking in the near future.
The federal banking agencies found that credit risk improved modestly in 2021 but remains high in the Shared National Credit portfolio—a bundle of large, syndicated bank loans that includes 5,764 borrowers and totals $5.2 trillion—according to the SNC Review report released today.
The American Bankers Association today called on the OCC to continue taking a “principles-based approach that is flexible and iterative” to climate-related financial risk management for large financial institutions.
A federal district court on Tuesday upheld the OCC’s and FDIC’s “valid-when-made” rules in separate rulings. The agencies’ rules had affirmed that permissible interest on a loan made by a national or state-chartered bank or federal thrift remains valid when the loan is transferred or sold.
The OCC is seeking comments on the renewal of its guidance for managing compliance and reputation risk as it relates to reverse mortgage products.