News Release 2021-111 | October 26, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today issued a Consent Order against Cenlar FSB of Ewing, N.J. The OCC took this action based on the bank’s failure to establish effective controls and risk management practices related to its mortgage servicing and subservicing activities. […]
Category Archives: Office of the Comptroller of the Currency
Acting Comptroller Discusses LIBOR Cessation and Replacement
News Release 2021-110 | October 26, 2021 Share This Page: WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed the importance of maintaining trust in the banking system during the transition from LIBOR to replacement rates at the Alternative Reference Rates Committee (ARRC) Symposium. His remarks highlighted the importance of a smooth transition away from […]
OCC Assesses $4 Million Civil Money Penalty Against Trustmark National Bank For Violations of the Fair Housing Act
News Release 2021-109 | October 22, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a $4 million civil money penalty against Trustmark National Bank, Jackson, Miss., for violations of the Fair Housing Act. The OCC found that Trustmark National Bank denied residents of majority minority and high minority neighborhoods […]
Statement by the Acting Comptroller of the Currency on FSOC Climate Change Report
News Release 2021-108 | October 21, 2021 Share This Page: WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu made the following statement today at the meeting of the Financial Stability Oversight Council (FSOC) with respect to the FSOC Climate Change Report: Thank you, Madam Chair, and thank you to the FSOC and interagency staff for today’s […]
OCC Releases Bank Supervision Operating Plan for Fiscal Year 2022
News Release 2021-106 | October 15, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released its bank supervision operating plan for fiscal year (FY) 2022. The plan provides the foundation for policy initiatives and for supervisory strategies as applied to individual national banks, federal savings associations, federal branches, federal agencies, […]
Acting Comptroller Discusses Diversity and Inclusion
News Release 2021-105 | October 5, 2021 Share This Page: WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed the importance of promoting diversity and inclusion in the financial services sector during remarks at the Women in Housing & Finance Public Policy Luncheon. Related Links Media Contact Stephanie Collins(202) 649-6870 Related posts: OCC Reports Second […]
OCC Reports Improvement in Mortgage Performance
News Release 2021-103 | September 28, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported that the performance of first-lien mortgages in the federal banking system improved during the second quarter of 2021. The OCC Mortgage Metrics Report, Second Quarter 2021 showed that 95.0 percent of mortgages included in the report […]
OCC Releases Fall/Winter Schedule of Virtual Workshops for Community Bank Directors
News Release 2021-102 | September 23, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced its fall and winter schedule of free, virtual workshops for boards of directors of community national banks and federal savings associations. The OCC examiner-led workshops provide practical training and guidance to directors of national community […]
Acting Comptroller Discusses Innovation in Digital Assets
News Release 2021-101 | September 21, 2021 Share This Page: WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed blockchain, cryptocurrencies, decentralized finance, and key lessons from the 2008 financial crisis that should guide the future of digital innovation during remarks before the Blockchain Association. His comments highlighted similarities between the current growth in the […]
OCC Issues Cease and Desist Order Against MUFG Union Bank for Deficiencies Relating to Technology and Operational Risk Governance
News Release 2021-100 | September 20, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today issued a Cease and Desist Order against MUFG Union Bank, N.A. The OCC took this action based on the bank’s unsafe or unsound practices regarding technology and operational risk management and the bank’s noncompliance with the […]