Bank Notes

  • September 7, 2017
    On Thursday, September 7, 2017, the OCC issued the “ Foreword ” booklet of the Comptroller’s Handbook. The revised booklet replaces the booklet titled “Foreword” issued on May 6, 2013. This booklet describes the overall organization and format of the Comptroller’s Handbook and lists the booklet titles that compose the handbook. The list will change over time because the OCC periodically issues...
  • September 6, 2017
    On September 6, 2017, the OCC, Board of Governors of the Federal Reserve, FDIC, and state bank regulators recognize the serious impact of Hurricane Irma on the customers and operations of many financial institutions and will provide regulatory assistance to affected institutions subject to their supervision. The agencies encourage institutions in the affected areas to meet the financial services...
  • September 6, 2017
    On Wednesday, September 6, 2017, the OCC, the Board of Governors of the Federal Reserve, the FDIC, and the National Credit Union Administration published additional frequently asked questions to assist financial institutions and examiners with the new accounting standard, Accounting Standards Update 2016-13, Topic 326, “Financial Instruments–Credit Losses,” issued by the Financial Accounting...
  • September 6, 2017
    On Wednesday, September 6, 2017, the CFPB took action against Zero Parallel , LLC, an online lead aggregator,claiming the company pushed consumers towards lenders who offered illegal or unlicensed loans often void in the customer’s state. The Bureau claims Zero Parallel sold consumers’ payday and installment loan applications to lenders it knew were likely to make void loans the lenders had no...
  • September 5, 2017
    On Tuesday, September 5, 2017, the FDIC issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in June 2017.
  • September 5, 2017
    On Tuesday, September 5, 2017, the OCC issued a proclamation allowing national banks and federal savings associations affected by Hurricane Irma to close. In issuing the proclamation, the OCC expects that only those bank offices directly affected by the extreme weather will close. Those offices should make every effort to reopen as quickly as possible to address the banking needs of their...
  • September 1, 2017
    On Friday, September 1, 2017, the OCC issued the “ Change in Bank Control ” booklet of the Comptroller’s Licensing Manual. This booklet replaces one of the same title issued in January of 2007. The revised booklet incorporates updated procedures and requirements following the integration of the Office of Thrift Supervision (OTS) into the OCC in 2011 and the issuance of revised regulations (12 CFR...
  • September 1, 2017
    On Friday, September 1, 2017, the Federal Reserve Board adopted a final rule to enhance financial stability by requiring U.S. global systemically important banking institutions (GSIBs) and the U.S. operations of foreign GSIBs to amend qualified financial contracts to prevent their immediate cancellation or termination if the firm enters bankruptcy or a resolution process. The final rule contains...
  • September 1, 2017
    On Friday, September 1, 2017, the OCC released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of August 1, 2017 through August 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...
  • September 1, 2017
    On Friday, September 1, 2017, the OCC and the FDIC issued a notice of proposed rulemaking to shorten the standard settlement cycle for securities purchased or sold by national banks, federal savings associations, and FDIC-supervised institutions. The agencies note that the industry-wide standards established by the applicable securities and self-regulatory organizations’ rules for T+2 securities...

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