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- September 29, 2017On Friday, September 29, 2017, the OCC reported that their Performance of first-lien mortgages improved during the second quarter of 2017 compared with a year earlier. The OCC Mortgage Metrics Report , Second Quarter 2017, showed 95.4 percent of mortgages included in the report were current and performing at the end of the quarter, compared with 94.7 percent a year earlier. The report also showed...September 28, 2017On Thursday, September 28, 2017, the Federal Reserve Board and the FDIC extended the next resolution plan filing deadline for eight large domestic banks by one year to July 1, 2019. The extension will provide the time needed for firms to remediate any weaknesses identified in their July 2017 submissions and to prepare and improve their next resolution plan submissions. According to the agencies’...September 28, 2017On Thursday, September 28, 2017, the OCC released its bank supervision operating plan for fiscal year (FY) 2018. The plan provides the foundation for policy initiatives and for supervisory strategies as applied to individual banks. Supervisory strategies for FY 2018 focus on: Cybersecurity and operational resiliency; Commercial and retail credit loan underwriting, concentration risk management,...September 27, 2017On Wednesday, September 27, 2017, the CFPB took action against Meridian Title Corporation , a real estate settlement services provider for allegedly steering consumers to a title insurer owned in part by several of Meridian’s executives without making disclosures about each businesses’ affiliation with one another. The CFPB found Meridian failed to disclose its relationship with the title insurer...September 27, 2017On Wednesday, September 27, 2017, the federal banking agencies proposed a rule intended to reduce regulatory burden by simplifying several requirements in the agencies' regulatory capital rule. Most aspects of the proposed rule would apply only to banking organizations that are not subject to the "advanced approaches" in the capital rule, which are generally firms with less than $250 billion in...September 27, 2017On Wednesday, September 27, 2017, the FDIC adopted a final rule to enhance the resilience and safety and soundness of state savings associations and banks supervised by the FDIC that are affiliated with systemically important U.S. and foreign banking organizations ("covered FDIC-supervised institutions"). Under the final rule, covered FDIC-supervised institutions are required to ensure that their...September 27, 2017On Thursday, September 27, 2017, the OCC released their Second Quarter 2017 Bank Trading Revenue . The report states that U.S. commercial banks and savings associations fell to $6.7 billion in the second quarter 2017, $348 million, or 4.9 percent, lower than the previous quarter. In the report, Quarterly Report on Bank Trading and Derivatives Activities, the OCC also noted that trading revenue in...September 26, 2017On Tuesday, September 26, 2017, the CFPB released the results of a national survey on the financial well-being of American consumers, which shows more than 40% of adults struggle to make ends meet. The survey provides measurements on the financial well-being on various groups of consumers, in addition to the American population as a whole. In addition to the survey, the CFPB also released an...September 22, 2017On Friday, September 22, 2017, the OCC, the Board of Governors of the Federal Reserve, and the FDIC (the Agencies) issued a press release seeking comment on a proposed rule that would revise their regulations implementing the Community Reinvestment Act (CRA) (12 USC 2901 et seq.). The proposed rule would amend the CRA regulations’ definitions of “home mortgage loan” and “consumer loan” to conform...September 20, 2017On September 20, 2017, the OCC, the Board of Governors of the Federal Reserve, and the FDIC issued a bulletin regarding the host state loan-to-deposit (LTD) ratios used to determine compliance with section 109 of the Riegle–Neal Interstate Banking and Branching Efficiency Act of 1994 (IBBEA) issued on June 21, 2017. These bulletin provided host state LTD ratios using data as of June 30, 2016, and...