Statement on the Passing of the 23rd Comptroller of the Currency James E. Smith

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.

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.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-127.html

OCC Reports Decline in Mortgage Performance

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 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.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-126.html

Federally Chartered Banks and Thrifts May Engage in Certain Stablecoin Activities

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.

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.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-125.html

OCC Announces Settlements With Three Former Senior Wells Fargo Bank Executives

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 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.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-124.html

Federal Reserve Board issues Advance Notice of Proposed Rulemaking on an approach to modernize regulations that implement the Community Reinvestment Act

Federal Reserve Board issues Advance Notice of Proposed Rulemaking on an approach to modernize regulations that implement the Community Reinvestment Act

Federal Reserve Board issues Advance Notice of Proposed Rulemaking on an approach to modernize regulations that implement the Community Reinvestment Act

Read more / Original news source: https://www.federalreserve.gov/newsevents/pressreleases/bcreg20200921a.htm

Acting Comptroller of the Currency Statement on Federal Reserve Board’s Action to Modernize the Community Reinvestment Act

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 Reinve…

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 the Federal Reserve System.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-123.html

Consumer Financial Protection Bureau Settles with Auto Lender for Unfair Loss Damage Waiver Practices

The Consumer Financial Protection Bureau settled with Lobel Financial Corporation, an auto-loan servicer based in Anaheim, California.

The Consumer Financial Protection Bureau settled with Lobel Financial Corporation, an auto-loan servicer based in Anaheim, California.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-settles-auto-lender-unfair-loss-damage-waiver-practices/

CFPB to Extend Comment Period for Notice of Proposed Rulemaking on New Category of Qualified Mortgages

The Consumer Financial Protection Bureau is extending the comment period on its notice of proposed rulemaking to create a new category of seasoned qualified mortgages by three days.

The Consumer Financial Protection Bureau is extending the comment period on its notice of proposed rulemaking to create a new category of seasoned qualified mortgages by three days.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-extend-comment-period-notice-proposed-rulemaking-new-category-qualified-mortgages/

Federal Reserve Board updates frequently asked questions to clarify the Board and Department of Treasury’s expectations regarding lender underwriting for the Main Street Lending Program

Federal Reserve Board updates frequently asked questions to clarify the Board and Department of Treasury’s expectations regarding lender underwriting for the Main Street Lending Program

Federal Reserve Board updates frequently asked questions to clarify the Board and Department of Treasury’s expectations regarding lender underwriting for the Main Street Lending Program

Read more / Original news source: https://www.federalreserve.gov/newsevents/pressreleases/monetary20200918a.htm