News Release 2021-20 | February 12, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) released economic and financial market scenarios for use in the upcoming stress tests for covered institutions. The supervisory scenarios include baseline and severely adverse scenarios, as described in the OCC’s rule that implements stress test requirements of […]
Category Archives: Office of the Comptroller of the Currency
OCC Conditionally Approves Conversion of Protego Trust Bank
News Release 2021-19 | February 5, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced conditional approval of the conversion of Protego Trust Company, a Washington state-chartered trust company, to become Protego Trust Bank, National Association. The OCC granted conditional approval to Protego after thorough review of its conversion application. […]
OCC to Host Virtual Innovation Office Hours
News Release 2021-18 | February 3, 2021 Share This Page: WASHINGTON — The Office of the Comptroller of the Currency (OCC) today announced that it will hold virtual Innovation Office Hours, March 17-18, to promote responsible innovation in the federal banking system. Office hours are one-on-one meetings with representatives from the OCC Office of Innovation to […]
OCC Releases Community Reinvestment Act Bank Type Determinations, Distressed and Underserved Areas, and Banking Industry Compensation Value
News Release 2021-16 | January 29, 2021 Share This Page: WASHINGTON— The Office of the Comptroller of the Currency (OCC) today announced the availability of the 2021 list of bank type determinations, the 2021 list of distressed and underserved areas, and the banking industry median hourly compensation value. These two lists and the determined compensation value […]
OCC Puts Hold on Fair Access Rule
News Release 2021-14 | January 28, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it has paused publication of its rule to ensure large banks provide all customers fair access to their services. The agency proposed the rule in November 2020 to codify more than a decade of OCC […]
OCC Approves Final Rule on Supervisory Guidance
News Release 2021-12 | January 19, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today approved a final rule confirming the OCC’s use of supervisory guidance for banks. The final rule codifies a statement, as amended, that was issued by the OCC, Board of Governors of the Federal Reserve System, Federal […]
OCC Publication Focuses on Bank Investments in Opportunity Zones
News Release 2021-11 | January 19, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today published the latest edition of its Community Developments Investments newsletter, “Strengthening Communities With Opportunity Zone Investments.” This edition of Community Developments Investments explains how banks can support distressed communities by making investments in tax-advantaged qualified opportunity […]
OCC Fines Former Wells Fargo General Counsel $3.5 Million in Settlement
News Release 2021-10 | January 15, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it has assessed a $3.5 million penalty against James Strother for his role in Wells Fargo Bank, N.A.’s systemic sales practices misconduct. The penalty came as part of a settlement with the bank’s former General […]
OCC Releases 2021 Schedule of Virtual Bank Director Workshops
News Release 2021-9 | January 14, 2021 Share This Page: WASHINGTON — The Office of the Comptroller of the Currency (OCC) today announced its 2021 schedule of free, virtual workshops for board of directors of national banks and federal savings associations. The OCC examiner-led workshops provide practical training and guidance to directors of national community banks […]
OCC Finalizes Rule Requiring Large Banks to Provide Fair Access to Bank Services, Capital, and Credit
News Release 2021-8 | January 14, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released its finalized rule to ensure fair access to banking services provided by large national banks, federal savings associations, and federal branches and agencies of foreign bank organizations. The rule codifies more than a decade of […]