WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed the Office of the Comptroller of the Currency’s (OCC) efforts to promote and safeguard trust in banking at the Woodstock Institute’s 50th anniversary celebration in Chicago. In his remarks, the Acting Comptroller discussed the OCC’s work to elevate fairness and advance financial inclusion and fair […]
Category Archives: Office of the Comptroller of the Currency
Agencies Propose Interagency Guidance on Reconsiderations of Value for Residential Real Estate Valuations
Five federal regulatory agencies today requested public comment on proposed guidance addressing reconsiderations of value (ROV) for residential real estate transactions. The proposed guidance advises on policies that financial institutions may implement to allow consumers to provide financial institutions with information that may not have been considered during an appraisal or if deficiencies are identified […]
OCC Hosts Risk Governance and Capital Markets Workshops in Denver
WASHINGTON—The Office of the Comptroller of the Currency (OCC) will host two workshops July 11-12 in Denver for directors, senior management, and other key executives of national community banks and federal savings associations. The Risk Governance: Improving Effectiveness workshop on July 11 combines lectures, discussion, and exercises to provide practical information for participants to effectively […]
Agencies Issue Final Guidance on Third-Party Risk Management
Federal bank regulatory agencies today issued final joint guidance designed to help banking organizations manage risks associated with third-party relationships, including relationships with financial technology companies. The final guidance describes principles and considerations for banking organizations’ risk management of third-party relationships. The final guidance covers risk management practices for the stages in the life cycle […]
Agencies Request Comment on Quality Control Standards for Automated Valuation Models Proposed Rule
WASHINGTON—Six federal regulatory agencies today requested public comment on a proposed rule designed to ensure the credibility and integrity of models used in real estate valuations. In particular, the proposed rule would implement quality control standards for automated valuation models (AVMs) used by mortgage originators and secondary market issuers in valuing real estate collateral securing […]
OCC Issues Third and Fourth Quarter 2023 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 third and fourth quarters of 2023. The OCC encourages public comment on the national banks and federal savings associations (collectively, banks) scheduled to be evaluated under the CRA. Public comments should […]
OCC Revises Bank Enforcement Manual to Address Actions Against Banks with Persistent Weaknesses
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced revisions to its policies and procedures manual on bank enforcement actions to reflect its consideration of actions against banks that exhibit or fail to correct persistent weaknesses. Policies and Procedures Manual (PPM) 5310-3, “Bank Enforcement Actions and Related Matters,” now includes “Appendix C: Actions […]
Acting Comptroller Discusses Financial Inclusion
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed the Office of the Comptroller of the Currency’s (OCC) commitment to a fair and inclusive financial system in remarks at the Bank On National Conference. In his remarks, the Acting Comptroller discussed progress made by the CFE Fund and Bank On partners in improving access […]
Acting Comptroller of the Currency Testifies on Bank Supervision
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today testified on bank supervision before the Committee on Banking, Housing, and Urban Affairs of the U.S. Senate. In his testimony, Mr. Hsu shared his observations on recent bank failures and discussed the resiliency of the federal banking system. He also discussed the Office of the Comptroller […]
Acting Comptroller of the Currency Testifies on Prudential Regulation
WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today testified before the U.S. House of Representatives’ Committee on Financial Services on the agency’s actions and responses to recent market stress and how the agency is ensuring that national banks and federal savings associations operate in a safe, sound, and fair manner. In his testimony, Hsu […]