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- November 8, 2017On Wednesday, November 8, 2017, the OCC issued a bulletin on guidance to provide transparency regarding its framework for evaluating certain types of licensing applications when an applicant bank has an overall Community Reinvestment Act (CRA) rating of “Needs to Improve” or “Substantial Noncompliance” (together, less than satisfactory CRA performance rating) or a less than satisfactory CRA...November 7, 2017On Tuesday, November 7, 2017, the OCC issued the “ Subordinated Debt ” booklet of the Comptroller’s Licensing Manual, replacing the booklet issued in November 2003 and the related guidance (OCC Bulletin 2015-22) issued April 3, 2015. The revised booklet incorporates updated requirements for issuing subordinated debt and including it as tier 2 capital, as well as revised sample notes for national...November 6, 2017Quarles sworn in to Federal Reserve System, Vice Chair for Supervision On Monday, November 6, 2017, the Board of Governors of the Federal Reserve announced Randal K. Quarles was ceremonially sworn in as a member and as Vice Chair for Supervision in the atrium of the Board's Eccles building in Washington. Following his confirmation by the Senate, Vice Chair Quarles took office on October 13, 2017...November 3, 2017On Friday, November 03, 2017, the FDIC issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act. The list covers evaluation ratings the FDIC assigned to institutions in August 2017. A consolidated list of all state nonmember banks whose evaluations have been made publicly available since July 1, 1990, including the rating for each bank, can be...November 1, 2017On Wednesday, November 1, 2017, the CFPB released a report on auto loan trends that shows an increase in riskier longer-term auto loans. According to the report, 42 percent of auto loans made in the last year carried a payback term of six years or more, compared to just 26 percent in 2009. The growth of these longer-term loans has largely come at the expense of five-year loans, which declined...November 1, 2017On Wednesday, November 1, 2017, the OCC released a list of Community Reinvestment Act performance evaluations made public during the period of October 1, 2017 through October 31, 2017. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. The possible ratings are outstanding, satisfactory, needs to improve,...October 31, 2017On Tuesday, October 31, 2017, the OCC issued a bulletin regarding the "Subsidiaries and Equity Investments" booklet of the Comptroller’s Licensing Manual. This booklet revises the “Investment in Subsidiaries and Equities” booklet issued in July 2008. This revised booklet updates procedures and requirements to reflect the integration of the functions of the Office of Thrift Supervision into the...October 31, 2017On Tuesday, October 31, 2017, the OCC issued a bulletin updating its policies and procedures regarding bank enforcement actions and related matters. This policy is effective on December 1, 2017. The updates are reflected in the “Bank Supervision Process,” “Community Bank Supervision,” “Federal Branches and Agencies Supervision,” and “Large Bank Supervision” booklets of the Comptroller’s Handbook...October 30, 2017On Monday, October, 30, 2017, the CFPB launched a mortgage performance trends tool tracking nationwide delinquency rates, and showing mortgage delinquency rates are at their lowest point since the financial crisis. The tool measures the delinquency rates in two general categories: Borrowers who are 30-89 days behind on mortgage payments, meaning they have missed one or two payments; and Serious...October 30, 2017On Monday, October 30, 2017, the OCC, the Board of Governors of the Federal Reserve, and the FDIC issued a bulletin seeking comment on a proposed rule to simplify certain aspects of the capital rule. The majority of the proposed simplifications would apply solely to banking organizations not subject to the advanced approaches capital rule (the advanced approaches capital rule generally applies to...