Tag Archives: OCC

President Barack Obama met with financial regulators this week to commend them for progress made since the Dodd-Frank Act became law in 2010, the White House announced. The president also exhorted the regulators and participants in the meeting to "consider additional ways to prevent excessive risk-taking across the financial system."

The Office of the Comptroller of the Currency (OCC) announced the appointment of Kathy Murphy as the agency's senior deputy comptroller for management and CFO.

Testifying before the Senate Banking Committee earlier in the week, Comptroller of the Currency Thomas Curry said the financial condition of banks has improved since the financial crash—but he believes that supervisors need to "remain vigilant."

Federal regulators announced last week they have finalized a rule with regards to the "liquidity coverage ratio" (LCR) of large financial institutions. The final rule is nearly identical to the rule that was originally proposed with a few changes based on public comments.

The Office of the Comptroller of the Currency (OCC) announced this week that it has published final guidelines for large financial institutions regarding the strengthening of governance and risk management practices for those institutions. Covered institutions will now be required to control and manage risk-taking activities by following a written risk governance framework under the new guidelines, OCC announced.

The fallout of the financial crisis caught up to another bank over the weekend, resulting in a shutdown by federal regulators. The Office of the Comptroller of the Currency (OCC) announced on Friday the closure of Chicago-based GreenChoice Bank. The recently shuttered bank is the second to fall in Illinois in the past two months and the 14th FDIC-insured institution to close so far this year.

On Wednesday, four federal financial regulatory agencies and the Conference of State Bank Supervisors (CSBS) issued risk management guidelines for financial institutions that need to be aware of the challenges borrowers may face in paying off their home equity lines of credit after coming out of a recession.

As the U.S. economy continues to improve, the challenges facing the banking industry gradually shift from recovery to risk management in an effort to avoid the pitfalls that contributed to the financial crisis, the Office of the Comptroller of Currency (OCC) said in its Semiannual Risk Perspective for Spring 2014. OCC warned that banks' boards of directors and senior managers should monitor heightened exceptions to traditional underwriting standards.

In a testimony given in front of the House Financial Services Committee this week, OCC chief counsel Amy Friend addressed frustrations stemming from regulatory burdens on community banks banks. Friend's testimony offered a conciliatory nod to the plight of smaller banks while noting particular ways the OCC addresses smaller bank's particular grievances with the Dodd-Frank Act.

The Office of the Comptroller of the Currency's (OCC) latest underwriting survey shows lending standards have continued to relax as banks duke it out over a dwindling market. Despite the drop in standards, examiners indicated risk in residential mortgage portfolios remained unchanged or decreased at 87 percent of banks. Still, OCC cautions banks to ensure they're giving "appropriate attention" to underwriting, loan structures, and loan administration.