Links in “OCC”

The OCC has released the results of 39 CRA evaluations for the month of September. Five institutions received a ranking of outstanding, with 33 ranked as satisfactory and one ranked as needs improvement. [10/9/14]

For the 10-year period between 2002 and 2012, the OCC issued 157 appeal decisions, the FDIC issued 63, and the Federal Reserve Board issued 25, while the NCUA’s Supervisory Review Committee issued only six and sided with the examiners in all six cases. The professor who authored this recent study believes that the low number of appeals indicate that the NCUA appeals process is likely less understood and less functional than the process in place at other agencies. Or maybe credit unions just don’t feel that, given the track record, there is any point. [10/2/14]

The OCC's Southern District is seeing increased health of banks and FSAs within its bounds. The improved conditions are attributed to, among other things, organic growth: increased loan originations rather than loan purchases. [10/1/14]

After charging consumers for add-on features that were never provided, U.S. Bank is required to pay $48 million in relief to customers, $4 million to the OCC, and $5 million to the CFPB. Richard Cordray, CFPB Director, was absolutely unapologetic, saying "we have consistently warned companies about [these] practices..." [9/26/14]

The OCC has released its Mortgage Metrics Report for the second quarter of 2014. Among other promising trends, first-lien mortgages are performing better than a year ago. [9/26/14]

U.S. Bank will pay $48 million in relief to customers and $9 million in penalties to the CFPB and OCC for issues related to the practices of its third-party vendor, Affinion, in handling credit card add-on services. [9/26/14]

The OCC's Thomas J. Curry told Senators that the condition of the nation's banks has improved since Dodd-Frank, but warns that supervisors need to remain vigilant to avoid a repeat of the financial crisis. [9/15/14]

The OCC, Board, and FDIC have joined together to propose that additional clarification be given regarding CRA regulations. [9/11/14]

Minimum standards have been adopted by the OCC regarding the implementation and design of a risk governance framework. These standards will only apply to large, insured national banks, insured Federal savings associations, and insured Federal branches of foreign banks with an average asset size of $50 billion or more. [9/11/14]

Director Richard Cordray of the CFPB discussed Tuesday the implementation of the Dodd-Frank Act and the creation of the CFPB. In addition to reporting on specific accomplishments, Cordray addressed the overarching goals of the agency, saying "at the heart of our mission is the premise that consumers deserve to have someone stand on their side and make sure they are treated fairly in the financial marketplace." Thomas Curry of the OCC also provided this insight regarding improvements to safety and soundness since implementing the Dodd-Frank Act. [9/10/14]