Office of the Comptroller of the Currency

News & Analysis as of

CFPB increases appraisal requirement exemption threshold

The CFPB, Fed, and OCC have adjusted the threshold for smaller loans that are exempt from the appraisal requirement for “higher priced mortgage loans.” The appraisal requirement became effective January 18, 2014, and the...more

Financial Regulatory Developments Focus - December 2014 #4

In this issue: - Bank Prudential Regulation & Regulatory Capital - Derivatives - Enforcement - Financial Market Infrastructure - Funds - Recovery and Resolution - People...more

Financial Services Weekly News Roundup - December 2014 #2

Editor’s Note - Spotlight on FINRA Retrospective Rule Review: On December 9, FINRA announced it had issued reports on its retrospective review of two groups of rules – a report on the rules on communications with the...more

OCC’s Curry Advocates Regulatory Reduction for Smaller Banks and Thrifts

Speaking on December 2 at an Interagency Outreach Meeting on the Economic Growth and Regulatory Reduction Act (EGRPRA), Comptroller of the Currency Thomas J. Curry indicated his desire to roll back regulatory burdens on...more

Corporate and Financial Weekly Digest - Volume IX, Issue 47

In this issue: - SEC Sets October 2015 Target Date for Certain Dodd-Frank and JOBS Act Rulemaking - FINRA Issues Notice on TRACE Trade Reporting Obligations - NFA Issues Guidance on Exempt and Excluded...more

Privacy & Cybersecurity Update - November 2014

In This Issue: - EU Issues Guidelines on ‘Right to be Forgotten’ - FFIEC Observations on Bank Cybersecurity Provides Important Guidelines for Every Industry - Remarks by Comptroller Curry Highlight OCC...more

Update on Leveraged Lending Guidance; November 24, 2014

On November 7, the Federal Reserve, FDIC and OCC jointly published answers to Frequently Asked Questions (“FAQs”) about the implementation of the March 2013 Interagency Guidance on Leveraged Lending. Highlights of the FAQs...more

Financial Regulatory Developments Focus - November 2014 #4

In this issue: - Bank Prudential Regulation & Regulatory Capital - Bank Structure - Compensation - Consumer Protection - Derivatives - Enforcement - Financial Market...more

OCC Updates Process, Policy on “Matters Requiring Attention”

Why it matters - To encourage communication of problems and expediency of correction, the Office of the Comptroller of the Currency (OCC) updated its policy on “Matters Requiring Attention,” or MRAs, in a newly...more

Agencies Propose Technical Corrections and Clarifications to the Capital Rules Applicable to Advanced Approaches Banking...

On November 18, the Federal Reserve Board, the FDIC and the OCC proposed clarifications to the revised regulatory capital rules adopted by the agencies in July 2013. The proposal applies to large internationally active...more

FTC Continues Regulatory Scrutiny of the Debt Buying Industry

The Federal Trade Commission (FTC) recently obtained temporary injunctions against two passive debt buyers, which are companies that buy and sell debt portfolios and exclusively use third-party debt collectors. In complaints...more

Orrick's Financial Industry Week in Review

FSB Consults on Total Loss-Absorbing Capacity for G-SIBs - On November 10, the Financial Stability Board (FSB) published a consultation paper on proposals on the adequacy of total loss-absorbing capacity (TLAC) of...more

OCC Comptroller Discusses Risks to Global Banking

On November 12, Comptroller of the Currency Thomas J. Curry spoke at the 25th Special Seminar on International Finance in Tokyo, Japan. The comptroller identified cybercriminals as possibly the biggest threat to the global...more

Banking Agencies Announce First Outreach Meeting

On November 5, the OCC, FDIC, and the Fed announced that they will hold an outreach meeting on December 2 to review regulations under the Economic Growth and Regulatory Paperwork Reduction Acts of 1996 (EGRPRA)....more

Financial Services Weekly News Roundup - November 2014 #2

The SEC first proposed a study of the fiduciary obligations of brokers and investment advisers as required by the Dodd-Frank Act in July 2010. The SEC still has not made a decision about the shape of a fiduciary rule for...more

Financial Regulatory Developments Focus - November 2014 #2

In this issue: - Bank Prudential Regulation & Regulatory Capital - Compensation - Consumer Protection - Derivatives - Enforcement - Financial Services - Funds -...more

US Bank Regulators Publish FAQs and 2014 SNC Review of Leveraged Lending

On November 7, 2014, the Office of the Comptroller of the Currency (“OCC”), the Board of Governors of the Federal Reserve System (“Federal Reserve”) and the Federal Deposit Insurance Corporation (“FDIC”) (collectively, the...more

Agencies Propose Flood Insurance Rule

On October 30, five federal agencies – the FCA, FDIC, NCUA, OCC and the Fed – issued a proposed rule regarding flood insurance. The proposed rule will amend regulations relating to loans secured by property located in special...more

OCC Revises Process for Matters Requiring Attention

On October 30, the OCC published revised policies and procedures for how it manages Matters Requiring Attention (MRA) resulting from its examination of supervised institutions. ...more

OCC Shuffles Management, Creates Senior Position to Oversee Risk

On October 27, the OCC announced the appointment of Darrin Benhart as Deputy Comptroller for Supervision Risk Management and Bethany Dugan as Deputy Comptroller for Operational Risk. ...more

Financial Services Weekly News Roundup - November 2014

The Day After: There are still a few undecided races but we know that Republicans will control the House and the Senate in the next session of Congress. This may provide an opportunity for more bipartisan legislation in the...more

OCC Revises Process for Managing Matters Requiring Attention

The Office of the Comptroller of the Currency (OCC) on October 30 published revised policy and procedures for how it manages Matters Requiring Attention (MRAs) resulting from its examination of supervised institutions. MRAs...more

Agencies Request Comment on Proposed Flood Insurance Rule

Five federal regulatory agencies on October 24 announced the approval of a joint notice of proposed rulemaking to amend regulations pertaining to loans secured by property located in special flood hazard areas. The proposed...more

Six Federal Agencies Jointly Approve Final Risk Retention Rule

Six federal agencies approved on October 22 a final rule requiring sponsors of securitization transactions to retain risk in those transactions. The final rule implements the risk retention requirements in the Dodd-Frank Wall...more

Corporate and Financial Weekly Digest - Volume IX, Issue 43

In this issue: - ISS Announces Launch of QuickScore 3.0 - SEC Provides Relief to GSEC From Rule 204 Close-Out Requirements - CFTC Extends Relief to FCMs from Certain Commingling Requirements -...more

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