News Release 2020-128 | September 25, 2020 Share This Page: WASHINGTON, D.C. – Acting Comptroller of the Currency Brian P. Brooks made the following statement today at the meeting of the Financial Stability Oversight Council (FSOC) with respect to the FSOC’s activities-based review of secondary mortgage market activities and issuance of a public statement on the […]
Category Archives: Office of the Comptroller of the Currency
Statement on the Passing of the 23rd Comptroller of the Currency James E. Smith
News Release 2020-127 | September 23, 2020 Share This Page: WASHINGTON, D.C. – Acting Comptroller of the Currency Brian P. Brooks issued the following statement upon learning of the passing of James E. Smith, the 23rd Comptroller of the Currency. Today, the OCC family and banking industry lost a giant with the passing of the 23rd […]
OCC Reports Decline in Mortgage Performance
News Release 2020-126 | September 23, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported the performance of first-lien mortgages in the federal banking system declined during the second quarter of 2020. The OCC Mortgage Metrics Report, Second Quarter 2020 showed 91.1 percent of mortgages included in the report were current […]
Federally Chartered Banks and Thrifts May Engage in Certain Stablecoin Activities
News Release 2020-125 | September 21, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today published a letter clarifying national banks’ and federal savings associations’ authority to hold “reserves” on behalf of customers who issue certain stablecoins. Stablecoins refer to cryptocurrency backed by an asset such as a fiat currency, including […]
OCC Announces Settlements With Three Former Senior Wells Fargo Bank Executives
News Release 2020-124 | September 21, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced settlements with three former senior executives of Wells Fargo Bank, N.A., Sioux Falls, South Dakota, for their roles in the bank’s systemic sales practices misconduct. The settlements include: (1) a prohibition order and $925,000 civil […]
Acting Comptroller of the Currency Statement on Federal Reserve Board’s Action to Modernize the Community Reinvestment Act
News Release 2020-123 | September 21, 2020 Share This Page: WASHINGTON—Acting Comptroller of the Currency Brian P. Brooks today released the following statement in appreciation of the Federal Reserve Board’s Advance Notice of Proposed Rulemaking (ANPR), which solicits stakeholder comment on how to improve Community Reinvestment Act (CRA) regulations for state-chartered banks that are members of […]
OCC Reports Second Quarter 2020 Bank Trading Revenue
News Release 2020-121 | September 16, 2020 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported trading revenue of U.S. commercial banks and federal savings associations of $14.7 billion in the second quarter 2020, which was $8.0 billion, or 119.3 percent, more than the previous quarter. In the report, Quarterly Report on […]
OCC Allows National Banks and Federal Savings Associations Affected by Hurricane Sally to Close
News Release 2020-120 | September 14, 2020 Share This Page: 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 affected by Hurricane Sally at their discretion. In issuing the proclamation, the OCC expects […]
OCC Allows National Banks and Federal Savings Associations Affected by Oregon and Washington Wildfires to Close
News Release 2020-119 | September 11, 2020 Share This Page: 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 affected by wildfires in Oregon and Washington at their discretion. In issuing the proclamation, […]
OCC OMWI Executive Director Testifies on Diversity and Inclusion Efforts
News Release 2020-118 | September 8, 2020 Share This Page: WASHINGTON— The Office of the Comptroller of the Currency (OCC) Executive Director for the Office of Minority and Women Inclusion Joyce Cofield testified before the U.S. House Committee on Financial Services Subcommittee on Diversity and Inclusion. Ms. Cofield discussed the OCC’s commitment and actions promoting diversity […]