Office of the Comptroller of the Currency Issues Interpretation of 12 U.S.C. § 25b

The Office of the Comptroller of the Currency (OCC) today issued an interpretation of 12 U.S.C. 25b, which codifies preemption standards and establishes procedural requirements for certain preemption actions by the agency.

The Office of the Comptroller of the Currency (OCC) today issued an interpretation of 12 U.S.C. 25b, which codifies preemption standards and establishes procedural requirements for certain preemption actions by the agency.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-176.html

Agencies Propose Requirement for Computer Security Incident Notification

Federal financial regulatory agencies today announced a proposal that would require supervised banking organizations to promptly notify their primary federal regulator in the event of a computer security incident. In particular, alerts would be requir…

Federal financial regulatory agencies today announced a proposal that would require supervised banking organizations to promptly notify their primary federal regulator in the event of a computer security incident. In particular, alerts would be required for incidents that could result in a banking organization's inability to deliver services to a material portion of its customer base, jeopardize the viability of key operations of a banking organization, or impact the stability of the financial sector.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-ia-2020-175.html

OCC Proposes Rule Regarding Exemptions to Suspicious Activity Report Requirements

The Office of the Comptroller of the Currency (OCC) today invited comment on a notice of proposed rulemaking to modify the requirements for national banks and federal savings associations to file suspicious activity reports (SARs).

The Office of the Comptroller of the Currency (OCC) today invited comment on a notice of proposed rulemaking to modify the requirements for national banks and federal savings associations to file suspicious activity reports (SARs).

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-174.html

OCC Enforcement Actions and Terminations

The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations.

The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-173.html

OCC Reports Decline in Mortgage Performance

The Office of the Comptroller of the Currency (OCC) reported that the performance of first-lien mortgages in the federal banking system declined during the third quarter of 2020.

The Office of the Comptroller of the Currency (OCC) reported that the performance of first-lien mortgages in the federal banking system declined during the third quarter of 2020.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-172.html

OCC Reports Third Quarter 2020 Bank Trading Revenue

The Office of the Comptroller of the Currency (OCC) reported trading revenue of U.S. commercial banks and savings associations of $9.0 billion in the third quarter of 2020. The third quarter trading revenue was $5.7 billion, or 38.9 percent, less than …

The Office of the Comptroller of the Currency (OCC) reported trading revenue of U.S. commercial banks and savings associations of $9.0 billion in the third quarter of 2020. The third quarter trading revenue was $5.7 billion, or 38.9 percent, less than the previous quarter.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-171.html

New Brokered Deposits Rule Promotes Bank-Fintech Partnerships

Acting Comptroller of the Currency Brian P. Brooks today issued the following statement with his vote to support the Federal Deposit Insurance Corporation’s (FDIC) new brokered deposits rule.

Acting Comptroller of the Currency Brian P. Brooks today issued the following statement with his vote to support the Federal Deposit Insurance Corporation's (FDIC) new brokered deposits rule.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-170.html

Federal Banking Agencies Announce Availability of 2019 Small Business, Small Farm, and Community Development Lending Data

The three federal banking agency members of the Federal Financial Institutions Examination Council (FFIEC) with Community Reinvestment Act (CRA) responsibilities today announced the availability of data on small business, small farm, and community deve…

The three federal banking agency members of the Federal Financial Institutions Examination Council (FFIEC) with Community Reinvestment Act (CRA) responsibilities today announced the availability of data on small business, small farm, and community development lending reported by certain commercial banks and savings associations, pursuant to the CRA.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-ia-2020-169.html

OCC Announces New Executive Committee Members

The Office of the Comptroller of the Currency (OCC) today announced the appointment of two executives to the agency’s Executive Committee.

The Office of the Comptroller of the Currency (OCC) today announced the appointment of two executives to the agency's Executive Committee.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-168.html

Statement by the Acting Comptroller of the Currency Regarding Issuance of FSOC’s 2020 Annual Report

Acting Comptroller of the Currency Brian P. Brooks made the following statement today at the meeting of the Financial Stability Oversight Council (FSOC) with respect to the issuance of FSOC’s 2020 annual report.

Acting Comptroller of the Currency Brian P. Brooks made the following statement today at the meeting of the Financial Stability Oversight Council (FSOC) with respect to the issuance of FSOC's 2020 annual report.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-167.html