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

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

OCC Enforcement Actions

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-2020-122.html

OCC Reports Second 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 $14.7 billion in the second quarter 2020, which was $8.0 billion, or 119.3 percent, more 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 $14.7 billion in the second quarter 2020, which was $8.0 billion, or 119.3 percent, more than the previous quarter.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-121.html

OCC Allows National Banks and Federal Savings Associations Affected by Hurricane Sally to Close

The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices affected by Hurricane Sally at their discretion.

The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices affected by Hurricane Sally at their discretion.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-120.html

OCC Allows National Banks and Federal Savings Associations Affected by Oregon and Washington Wildfires to Close

The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices affected by wildfires in Oregon and Washington at…

The Office of the Comptroller of the Currency (OCC) today issued a proclamation allowing national banks, federal savings associations, and federal branches and agencies of foreign banks to close offices affected by wildfires in Oregon and Washington at their discretion.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-119.html

OCC OMWI Executive Director Testifies on Diversity and Inclusion Efforts

The Office of the Comptroller of the Currency (OCC) Executive Director for the Office of Minority and Women Inclusion Joyce Cofield testified before the U.S. House Committee on Financial Services Subcommittee on Diversity and Inclusion.

The Office of the Comptroller of the Currency (OCC) Executive Director for the Office of Minority and Women Inclusion Joyce Cofield testified before the U.S. House Committee on Financial Services Subcommittee on Diversity and Inclusion.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-118.html