WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed the evolution of bank supervision during a presentation at the Joint European Banking Authority and European Central Bank International Conference in Frankfurt, Germany. In his written remarks, Acting Comptroller Hsu offered thoughts on the nature of bank supervision, how and why it has evolved, and […]
Category Archives: Office of the Comptroller of the Currency
OCC Issues Fourth Quarter 2024 and First Quarter 2025 CRA Evaluation Schedule
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the fourth quarter of 2024 and the first quarter of 2025. The OCC encourages public comment on the CRA-related activities of the national banks and federal savings associations (collectively, banks) scheduled to […]
Acting Comptroller Issues Statement Promoting Accountability at the FDIC
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today issued the following statement in support of his vote on a Federal Deposit Insurance Corporation (FDIC) resolution to support a safe, fair and inclusive workplace for all FDIC employees. Yesterday, I joined the Board in supporting a resolution promoting accountability at the FDIC. This action is […]
OCC Announces Enforcement Actions for August 2024
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released enforcement actions taken against national banks and federal savings associations (banks), and individuals currently and formerly affiliated with banks the OCC supervises. The OCC uses enforcement actions against banks to require the board of directors and management to take timely actions to correct the […]
OCC Allows National Banks and Federal Savings Associations in Areas Affected by Hurricane Debby to Close
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices in areas of Maryland, North Carolina, South Carolina, Virginia, and Washington, D.C. affected by Hurricane Debby. In issuing the proclamation, the OCC expects that only […]
OCC Allows National Banks and Federal Savings Associations in Florida and Georgia Affected by Hurricane Debby to Close
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices in areas of Florida and Georgia affected by Hurricane Debby. In issuing the proclamation, the OCC expects that only those bank offices directly affected by […]
Mark Thomas Named Chief Financial Officer
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced the selection of Mark Thomas to be the agency’s Principal Deputy Comptroller for Management and Chief Financial Officer. In this role, Mr. Thomas will oversee the agency’s planning and execution of its annual operating budget. In addition to his financial duties, Mr. Thomas is […]
Acting Comptroller Issues Statements on Bank Liquidity and Bank Resolvability
Related posts: Comptroller of the Currency Joseph Otting to Step Down, Brian P. Brooks to Become Acting Comptroller of the Currency on May 29, 2020 Office of the Comptroller of the Currency to Close June 18 in Recognition of Juneteenth OCC Announces Executive Director for Office of Minority and Women Inclusion Acting Comptroller Issues Statement […]
Agencies Remind Banks of Potential Risks Associated with Third-Party Deposit Arrangements and Request Additional Information on Bank-Fintech Arrangements
The federal bank regulatory agencies today issued a statement reminding banks of potential risks associated with third-party arrangements to deliver bank deposit products and services. The agencies support responsible innovation and banks engaging in these arrangements in a safe and sound manner and in compliance with applicable law. While these arrangements can provide benefits, supervisory […]
Agencies Announce Public Outreach Meeting As Part of Their Review of Regulations
Federal bank regulatory agencies will hold a virtual public outreach meeting on September 25, 2024, as part of their review of regulations under the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA). EGRPRA requires the agencies, with input from the public, to review their regulations at least once every 10 years to identify […]