Links in “OCC”

OCC Comptroller Curry's address to ABA Risk Management Forum focuses on key topics of risk facing today's financial institutions that include Operational risk, third-party management, cybersecurity, and internal controls and notes that such risks have arisen over the past 10 to 15 years warranting consideration of risks that are rising on today's environment that will crest in the future. [4/14]

OCC assessed its own $25 million penalty against Bank of America and its credit card subsidiary FIA Card Services along with $459.5 million in restitution for the 1.9 million consumer accounts for unfair and deceptive acts or practices violations associated with the bank's practices for add-on products related to identity theft protection. [4/10]

Written testimony of Chief Legal Counsel promotes continued efforts of OCC towards working with community banks and minimizing burdens. [4/9]

On the same day that the OCC Comptroller Curry gave speech on CRA, the results for March were released showing 25 Satisfactory ratings and 3 Outstanding ratings with no negative ratings during the month. Curry's speech at the 2014 National Interagency CRC promotes alternative to payday lending through FIs (see this). [4/2]

OCC releases new booklet that contains interagency guidance and examination procedures on the “Garnishment of Accounts Containing Federal Benefit Payments." Guidance establishes procedures that FI must follow when they receive a garnishment order for certain federal benefits and calculate proper garnishment amount. [4/1]

Bipartisan group of legislators write letter to FDIC and OCC expressing concerns that efforts to crackdown on illegal payday lenders are having undue consequences on legitimate customers that have successfully banked for decades. [3/31]

OCC kicks off its 150th anniversary with a commemorative conference promoting work of the "boots on the ground" field examiner and the efforts to oversee national banks since its founding in 1863 under President Lincoln. [3/31]

Report notes improvements in the fourth quarter of 2013 with 91.8% of mortgages current compared to 89.4% in 2012 and delinquencies at lowest level since 2008. New foreclosures down and home retention actions outpaced home forfeiture actions 3 to 1. [3/28]

Key points on operational risks and impact on FIs including needs for promoting enterprise risk management approach to operations, managing cyber threats, managing third-party risks, and regulatory risks. [3/28]

Deputy Comptroller Wides' address to the Memphis CDFI promotes strategies and synergies for FIs and CDFIs to facilitate and meet respective needs and limitations. [3/27]