OCC Hosts Risk Governance and Credit Risk Workshops in Kansas City

The Office of the Comptroller of the Currency (OCC) will host two workshops June 28-29 in Kansas City for directors of national community banks and federal savings associations.

The Office of the Comptroller of the Currency (OCC) will host two workshops June 28-29 in Kansas City for directors of national community banks and federal savings associations.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2022/nr-occ-2022-63.html

OCC Hosts Dallas Workshop for National Community Bank Board Directors, Bank Management

The Office of the Comptroller of the Currency (OCC) will host a workshop in Dallas for directors, senior management team members, and other key executives of national community banks and federal savings associations, June 28-29.

The Office of the Comptroller of the Currency (OCC) will host a workshop in Dallas for directors, senior management team members, and other key executives of national community banks and federal savings associations, June 28-29.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2022/nr-occ-2022-62.html

CFPB Acts to Protect the Public from Black-Box Credit Models Using Complex Algorithms

Today, the Consumer Financial Protection Bureau (CFPB) confirmed that federal anti-discrimination law requires companies to explain to applicants the specific reasons for denying an application for credit or taking other adverse actions, even if the cr…

Today, the Consumer Financial Protection Bureau (CFPB) confirmed that federal anti-discrimination law requires companies to explain to applicants the specific reasons for denying an application for credit or taking other adverse actions, even if the creditor is relying on credit models using complex algorithms.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-acts-to-protect-the-public-from-black-box-credit-models-using-complex-algorithms/

OCC Issues Third and Fourth Quarter 2022 CRA Evaluation Schedule

The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the third and fourth quarters of 2022.

The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the third and fourth quarters of 2022.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2022/nr-occ-2022-61.html

Acting Comptroller Discusses Vulnerabilities, Volatility with Cryptocurrency

Acting Comptroller of the Currency Michael J. Hsu today discussed vulnerabilities in the cryptocurrency framework and recent volatility with stablecoins in remarks at the DC Blockchain Summit 2022.

Acting Comptroller of the Currency Michael J. Hsu today discussed vulnerabilities in the cryptocurrency framework and recent volatility with stablecoins in remarks at the DC Blockchain Summit 2022.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2022/nr-occ-2022-60.html

Federal Reserve Board announces approval of application by Alerus Financial Corporation

Federal Reserve Board announces approval of application by Alerus Financial Corporation

Federal Reserve Board announces approval of application by Alerus Financial Corporation

Read more / Original news source: https://www.federalreserve.gov/newsevents/pressreleases/orders20220524a.htm

CFPB Launches New Effort to Promote Competition and Innovation in Consumer Finance

The Consumer Financial Protection Bureau (CFPB) is opening a new office, the Office of Competition and Innovation, as part of a new approach to help spur innovation in financial services by promoting competition and identifying stumbling blocks for new…

The Consumer Financial Protection Bureau (CFPB) is opening a new office, the Office of Competition and Innovation, as part of a new approach to help spur innovation in financial services by promoting competition and identifying stumbling blocks for new market entrants. The office will replace the Office of Innovation that focused on an application-based process to confer special regulatory treatment on individual companies. The new office will support a broader initiative by the CFPB to analyze obstacles to open markets, better understand how big players are squeezing out smaller players, host incubation events, and, in general, make it easier for people to switch financial providers.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-lauches-new-effort-to-promote-competition-and-innovation-in-consumer-finance/

Federal Reserve Board announces approval of application by MidWestOne Financial Group, Inc.

Federal Reserve Board announces approval of application by MidWestOne Financial Group, Inc.

Federal Reserve Board announces approval of application by MidWestOne Financial Group, Inc.

Read more / Original news source: https://www.federalreserve.gov/newsevents/pressreleases/orders20220523a.htm