News Release 2021-96 | September 10, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced a public hearing before an Administrative Law Judge beginning Monday, September 13, 2021, in Sioux Falls, S.D. The OCC will litigate enforcement actions against Claudia Russ Anderson, former Community Bank Group Risk Officer, David Julian, […]
Category Archives: U.S. Treasury
OCC Assesses $250 Million Civil Money Penalty, Issues Cease and Desist Order Against Wells Fargo
News Release 2021-95 | September 9, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today assessed a $250 million civil money penalty against Wells Fargo Bank, N.A, of Sioux Falls, S.D., based on the bank’s unsafe or unsound practices related to deficiencies in its home lending loss mitigation program and violations […]
READOUT: Financial Stability Oversight Council Meeting on September 9, 2021
WASHINGTON – Today, U.S. Secretary of the Treasury Janet L. Yellen convened a meeting of the Financial Stability Oversight Council (Council) in executive session by videoconference. At the meeting, the Secretary briefed the Council on the potential financial stability implications of a failure to increase the debt limit in a timely manner. The Council then […]
READOUT: Secretary of the Treasury Janet L. Yellen’s Virtual Meeting with G7 Finance Ministers
WASHINGTON – Earlier today, U.S. Secretary of the Treasury Janet L. Yellen participated in a virtual meeting with the G7 finance ministers. Following the historic agreement by the G7 in June – which was later supported by 134 countries representing more than 90% of the world’s GDP – to rewrite the international tax rules to […]
OCC Issues Proposal to Rescind its 2020 Community Reinvestment Act Rule
News Release 2021-94 | September 8, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) is soliciting comments on proposed rules to rescind the Community Reinvestment Act (CRA) rule issued in 2020 and replace it with rules adopted jointly by the Federal banking agencies in 1995, as amended. This action facilitates the […]
Agencies Extend Comment Period on Proposed Risk Management Guidance for Third-Party Relationships
News Release 2021-93 | September 7, 2021 Share This Page: Joint Release Board of Governors of the Federal Reserve SystemFederal Deposit Insurance CorporationOffice of the Comptroller of the Currency The federal bank regulatory agencies today announced that they will extend until October 18, 2021, the comment period on proposed guidance designed to help banking organizations manage […]
Statement from Secretary of the Treasury Janet L. Yellen on Labor Day
I’m hoping that this particular Labor Day is more than just holiday marking the end of summer. I’m hoping that it’s a moment of national reflection. Maybe even a moment of change. It’s clearer than ever that the process of securing dignity for America’s workers is not complete. For decades, we’ve seen wage divergence in […]
OCC Hosts Virtual Mutual Savings Association Advisory Committee Meeting September 28
News Release 2021-92 | September 3, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it will host a virtual meeting of the Mutual Savings Association Advisory Committee (MSAAC) on Tuesday, September 28, 2021. The virtual meeting is open to the public and will begin at 8:30 a.m. Eastern Daylight […]
OCC Hosts Virtual Minority Depository Institutions Advisory Committee Meeting September 21
News Release 2021-91 | September 3, 2021 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced it will host a virtual public meeting of the Minority Depository Institutions Advisory Committee (MDIAC) on Tuesday, September 21, 2021. The meeting is open to the public and will begin at 10:00 a.m. Eastern Daylight […]
Treasury Sanctions Iranian Intelligence Network Targeting Iranian-American Activist in the United States
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating four Iranian intelligence operatives who targeted a U.S. citizen in the United States and Iranian dissidents in other countries as part of a wide-ranging campaign to silence critics of the Iranian government. Senior intelligence official Alireza Shahvaroghi Farahani […]