Links in “OCC”

The OCC has released its list of CRA evaluations performed in October. Of the 36 institutions on the list, six are rated as "outstanding," 29 are rated "satisfactory," and one is rated "needs to improve." Certusbank in South Carolina got hit for its lending test performance. [11/11/14]

The AML Task Force, made up of eight government agencies, has taken upon itself the task of bettering the world of AML. During the ABA Conference, Under Secretary Cohen detailed the efforts that have been taken as well as future efforts, with an emphasis on the handling of money services businesses. [11/10/14]

Comptroller of the Currency, Thomas J. Curry, discussed the rising issue of cyber threats and what financial institutions can do to combat these threats, stating that “All of these risks are manageable, but they must be well understood and they must be managed.” [11/10/14]

The OCC understands that people want more guidance on the topic of leveraging lending and have published an FAQ to combat the growing number of questions. [11/10/14]

The OCC has published revised policy and procedures for handling Matters Requiring Attention (MRAs) resulting from examinations. Changes were made in an effort to improve tracking and correction or observed issues within institutions. [10/31/14]

Five agencies (the OCC, FRB, FDIC, FCA, and NCUA) are proposing to amend their regulations regarding loans in areas with special flood hazards to implement certain provisions of the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA). In particular, the agencies proposed six additional exemptions from the escrow requirement and the incorporation of the detached structures provision of the HFIAA. [10/30/14]

A proposal to amend flood insurance rules was made by five federal agencies. The proposed amendments focus on escrow requirements. A 60-day comment period will be allowed once the rule is published in the Federal Register. [10/27/14]

Six federal agencies approved a final rule that defines "qualified residential mortgage" and exempts their securitization from the risk retention requirement. [10/23/14]

OCC has released its most recent enforcement orders for September. [10/20/14]

The OCC will host two workshops focused on compliance and consumer protection risk surrounding BSA, TILA, CRA, and more. Attendees will come away with an understanding of best practices and what examiners look for in evaluating institutions. Find a full list of upcoming workshops here. [10/15/14]