OCC: First and Second Quarter 2023 CRA Evaluation Schedule Issued
The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the first and second quarters of 2023. The OCC encourages public comment on the national banks and federal savings associations (collectively, banks) scheduled to be evaluated under the CRA. Public comments should…
OCC: Virtual Innovation Office Hours Scheduled for December 14th and 15th
The Office of the Comptroller of the Currency (OCC) today announced that it will host virtual Innovation Office Hours on December 14-15, 2022, to promote responsible innovation in the federal banking system. Office Hours are one-on-one meetings with representatives from the OCC Office of Innovation to discuss financial technology (fintech), new products or services, partnering…
OCC: Agency Announces Office of Financial Technology
The Office of the Comptroller of the Currency today announced it will establish an Office of Financial Technology early next year to bolster the agency’s expertise and ability to adapt to a rapidly changing banking landscape. The Office of Financial Technology will build on and incorporate the Office of Innovation, which the OCC established in…
OCC: Agency to Host Symposium on Bank Mergers
The Office of the Comptroller of the Currency (OCC) will host a symposium on bank mergers at its headquarters in Washington, D.C., on February 10, 2023. The symposium will promote public input and discussion regarding the framework for analyzing bank mergers under federal law, including topics such as competition, financial stability, and convenience and needs….
OCC: Agency Joins Military Spouse Partnership
The Office of the Comptroller of the Currency (OCC) affirmed its commitment to military families by joining the Military Spouse Employment Partnership (MSEP) at a ceremony today in Arlington, Va. MSEP is a Department of Defense program that connects military spouses with partner employers who have committed to recruit, hire, promote, and retain military spouses….
CFPB: Threshold for Smaller Loan Exemption for Appraisal Requirements for Higher-Priced Mortgage Loans Announced for 2023
The Consumer Financial Protection Bureau, the Federal Reserve Board, and the Office of the Comptroller of the Currency today announced that the 2023 threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans will increase from $28,500 to $31,000. The threshold amount will be effective January 1, 2023, and is based on the…
OCC: Bank Supervision Operating Plan for Fiscal Year 2023 Released
The Office of the Comptroller of the Currency (OCC) today released its bank supervision operating plan for fiscal year (FY) 2023. The plan provides the foundation for policy initiatives and for supervisory strategies as applied to individual national banks, federal savings associations, federal branches, federal agencies, and technology service providers. The OCC staff uses this…
OCC: New Executive Committee Members Announced
The Office of the Comptroller of the Currency (OCC) today announced three new members of its Executive Committee, effective October 10, 2022. Beverly Cole has been selected as the Senior Deputy Comptroller for Midsize and Community Bank Supervision. She will lead a team of 1,600 people in the supervision of more than 1,000 national banks…
OCC: Report Shows Overall Mortgage Performance Improvement
The Office of the Comptroller of the Currency (OCC) reported that the performance of first-lien mortgages in the federal banking system improved during the second quarter of 2022. The OCC Mortgage Metrics Report, Second Quarter 2022 showed that 97 percent of mortgages included in the report were current and performing at the end of the quarter, compared…
OCC: Chief Climate Risk Officer Announced
The Office of the Comptroller of the Currency (OCC) today announced the appointment of Dr. Yue (Nina) Chen as Chief Climate Risk Officer. Dr. Chen will lead the agency’s climate risk efforts related to supervision, policy, and external engagement. She will oversee the activities of the OCC’s Office of Climate Risk and report directly to…