Comptroller of the Currency Discusses Community Reinvestment, Honored for his Community Service

News Release 2019-115 | October 4, 2019 Share This Page: LOS ANGELES—Comptroller of the Currency Joseph Otting today discussed community reinvestment and service during remarks at National Asian American Coalition’s (NAAC) 16th Annual Economic Development Conference. During his comments, Comptroller Otting highlighted the importance of modernizing the regulatory framework implementing the Community Reinvestment Act (CRA). “Since […]

OCC Issues Final Rule Amending Stress Testing Rule for National Banks and Federal Savings Associations

News Release 2019-114 | October 2, 2019 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) issued a final rule  amending the OCC’s stress testing rule at 12 CFR 46 (which implements the stress testing requirements of section 165(i)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act), consistent with section 401 […]

OCC Releases CRA Evaluations for 35 National Banks and Federal Savings Associations

News Release 2019-113 | October 2, 2019 Share This Page: WASHINGTON — The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of September 1, 2019 through September 30, 2019.  The list contains only national banks, federal savings associations, and […]

Agencies Issue Final Rule to Update Management Interlock Rules

News Release 2019-112 | October 2, 2019 Share This Page: Joint Release Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency The federal bank regulatory agencies today finalized updates to rules restricting the ability of a director or other management official to serve at more than […]

OCC Releases Bank Supervision Operating Plan for Fiscal Year 2020

News Release 2019-111 | October 1, 2019 Share This Page: WASHINGTON — The Office of the Comptroller of the Currency (OCC) today released its bank supervision operating plan for fiscal year (FY) 2020. The plan provides the foundation for policy initiatives and for supervisory strategies as applied to individual national banks, federal savings associations, federal branches, […]

OCC Reports Slight Improvement in Mortgage Performance

News Release 2019-110 | September 30, 2019 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported a slight improvement in the performance of first-lien mortgages in the federal banking system during the second quarter of 2019. The OCC Mortgage Metrics Report, Second Quarter 2019 showed 96.1 percent of mortgages included in the […]

Treasury Targets Assets of Russian Financier who Attempted to Influence 2018 U.S. Elections

Washington – Today, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) took action against Russian actors that attempted to influence the 2018 U.S. midterm elections, though there was no indication that foreign actors were able to compromise election infrastructure that would have prevented voting, changed vote counts, or disrupted the tallying of votes.  […]

Treasury Department and FHFA Modify Terms of Preferred Stock Purchase Agreements for Fannie Mae and Freddie Mac

WASHINGTON – The U.S. Department of the Treasury (Treasury) and the Federal Housing Finance Agency (FHFA) today announced that they had agreed to modifications to the Preferred Stock Purchase Agreements (PSPAs) that will permit Fannie Mae and Freddie Mac to retain additional earnings in excess of the $3 billion capital reserves currently permitted by their […]

Federal Banking Agencies Issue Final Rule to Exempt Residential Real Estate Transactions of $400,000 or Less from Appraisal Requirements

News Release 2019-109 | September 27, 2019 Share This Page: Joint Release Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency WASHINGTON—The Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency have adopted a final rule that increases the […]

Jay Gallagher Named Deputy Comptroller for Systemic Risk Identification Support and Specialty Supervision

News Release 2019-108 | September 26, 2019 Share This Page: WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced Jay Gallagher as Deputy Comptroller for Systemic Risk Identification Support and Specialty Supervision. In this new role reporting to the OCC’s Chief Operating Officer, Mr. Gallagher will serve as a key advisor to the Committee […]