Links in “OCC”

Five of the federal banking regulatory agencies—FDIC, FRB, OCC, FCA, and NCUA—have recently issued a joint final flood insurance rule. The rule accomplished many things, including requiring escrowing of flood insurance payments from non-exempt loans, and requiring borrowers be given the option to escrow flood insurance premiums and fees. [6/25/15]

The Office of the Comptroller of the Currency will host an educational event for both minority- and women-owned businesses in July. The event is titled "Managing for Long-Term Success" and is a free, interactive session looking into the unique challenges facing minority entrepreneurs. [6/24/15]

The OCC's enforcement actions for June have been released. [6/22/15]

Six out of nine large banks that were under orders from the foreclosure review process are hit with additional restrictions for failing to make enough progress since the review began in 2011. [6/18/15]

All in one announcement too! The OCC announced it will escheat remaining uncashed payments at the end of 2015 regarding the Independent Foreclosure Review so borrowers and their heirs can claim funds through the states. Additionally, Bank of America, Citibank, and PNC Bank had their April 2011 orders terminated while EverBank, HSBC Bank USA, JPMorgan Chase Bank, Santander Bank, U.S. Bank National Association, and Wells Fargo Bank did not meet the requirements of their consent orders and are thus facing further restrictions regarding mortgage servicing. [6/18/15]

The OCC has issued an updated “Residential Real Estate Lending” booklet. This booklet provides updated guidance to examiners and an overview of lending laws, regulations, and policies. [6/16/15]

Fulfilling a requirement of the Dodd-Frank Act, the FRB, CFPB, OCC, SEC, FDIC, and NCUA have created an interagency policy statement related to diversity policy and practice standards expected of regulated institutions. Also take a look at the final statement and the board voting. [6/10/15]

The OCC has posted 14 CRA reviews that are now available to the public. Of the 14, none were rated as "substantial noncompliance" or "needs improvement". A list of the available reviews is available here. [6/10/15]

A final rule has been adopted by the OCC, Board, FDIC, NCUA, CFPB, and FHFA that sets forth minimum requirements in the Dodd-Frank Act for appraisal management companies. [6/9/15]

OCC has released its third quarter schedule for Community Reinvestment Act (CRA) evaluations. [6/2/15]