OCC Announces Project REACh to Promote Greater Access to Capital and Credit for Underserved Populations

The Office of the Comptroller of the Currency today announced the launch of Project REACh to promote financial inclusion through greater access to credit and capital.

The Office of the Comptroller of the Currency today announced the launch of Project REACh to promote financial inclusion through greater access to credit and capital.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-89.html

OCC Releases CRA Evaluations for 21 National Banks and Federal Savings Associations

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 June 1, 2020 through June 30, 2020.

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 June 1, 2020 through June 30, 2020.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-88.html

CFPB, OCC Host Virtual Innovation Office Hours

The Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC) today announced they will host joint, virtual Innovation Office Hours, July 29-30, as part of the American Consumer Financial Innovation Network (AC…

The Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC) today announced they will host joint, virtual Innovation Office Hours, July 29-30, as part of the American Consumer Financial Innovation Network (ACFIN).

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-ia-2020-87.html

OCC Highlights Key Risks for Federal Banking System

The Office of the Comptroller of the Currency (OCC) today reported the key issues facing the federal banking system and the effects of the COVID-19 pandemic on the federal banking industry in its Semiannual Risk Perspective for Spring 2020.

The Office of the Comptroller of the Currency (OCC) today reported the key issues facing the federal banking system and the effects of the COVID-19 pandemic on the federal banking industry in its Semiannual Risk Perspective for Spring 2020.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-86.html

OCC Reports First Quarter 2020 Bank Trading Revenue

The Office of the Comptroller of the Currency (OCC) reported trading revenue of U.S. commercial banks and federal savings associations of $6.7 billion in the first quarter 2020, which was $505.0 million, or 7.0 percent, less than the previous quarter.

The Office of the Comptroller of the Currency (OCC) reported trading revenue of U.S. commercial banks and federal savings associations of $6.7 billion in the first quarter 2020, which was $505.0 million, or 7.0 percent, less than the previous quarter.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-85.html

Agencies Release Proposed Revisions to Interagency Questions and Answers Regarding Flood Insurance

Five federal regulatory agencies today requested public comment on new and revised Interagency Questions and Answers Regarding Flood Insurance.

Five federal regulatory agencies today requested public comment on new and revised Interagency Questions and Answers Regarding Flood Insurance.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-ia-2020-84.html

Agencies Finalize Amendments to Swap Margin Rule

Five federal agencies have finalized changes to their swap margin rule to facilitate the implementation of prudent risk management strategies at banks and other entities with significant swap activities.

Five federal agencies have finalized changes to their swap margin rule to facilitate the implementation of prudent risk management strategies at banks and other entities with significant swap activities.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-ia-2020-83.html

Financial Regulators Modify Volcker Rule

Five federal regulatory agencies today finalized a rule modifying regulations implementing the Volcker Rule’s prohibition on banking entities investing in or sponsoring hedge funds or private equity funds—known as covered funds.

Five federal regulatory agencies today finalized a rule modifying regulations implementing the Volcker Rule's prohibition on banking entities investing in or sponsoring hedge funds or private equity funds—known as covered funds.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-ia-2020-82.html

Agencies Release List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today announced the availability of the 2020 list of distressed or underserved nonmetropolitan middle-in…

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today announced the availability of the 2020 list of distressed or underserved nonmetropolitan middle-income geographies. These are geographic areas where revitalization or stabilization activities are eligible to receive Community Reinvestment Act (CRA) consideration under the community development definition.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-ia-2020-81.html

Federal and State Regulatory Agencies Issue Examiner Guidance for Assessing Safety and Soundness Considering the Effect of the COVID-19 Pandemic on Financial Institutions

The four federal agencies in conjunction with the state bank and credit union regulators today issued examiner guidance to promote consistency and flexibility in the supervision and examination of financial institutions affected by the COVID-19 response.

The four federal agencies in conjunction with the state bank and credit union regulators today issued examiner guidance to promote consistency and flexibility in the supervision and examination of financial institutions affected by the COVID-19 response.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-ia-2020-80.html