Tag Archives: OCC

In his speech at the American Banker Retail Banking Conference in Las Vegas on Thursday, Comptroller of the Currency Thomas Curry spoke to the importance of innovation in the financial services industry—especially amidst the constantly changing technological environment.

To this end, the OCC released a white paper on Thursday that outlines eight principles the agency plans to use to guide the development of its innovation framework.

The number of first-lien mortgage loans serviced by eight national banks has declined every quarter for two years. So what is the good news?

According to Comptroller of the Currency Thomas Curry, "Innovation has been a hallmark of the U.S. banking system since it was created in 1863 at the behest of President Lincoln."

Banks and federal savings associations are about to receive some regulatory relief following a review of the Economic Growth and Regulatory Paperwork Reduction Act by federal agencies that happens only once every 10 years.

Comptroller of the Currency Thomas Curry encouraged banks to meet with stakeholders in their communities to determine effectiveness of their financial products and possibly pinpoint new business opportunities.

The Office of the Comptroller of the Currency removed restrictions from two more banks, but the banks will also be paying a hefty penalty.

The rule will affect more than 600 financial institutions.

The OCC has terminated mortgage-related consent orders against JPMorgan Chase and EverBank. ending business restrictions that were mandated against them in mid-2015. But the two banks did not emerge completely unscathed.

What effect has the improved economy had on the share of mortgages at the largest banks that are current and performing, as well as on those that are delinquent?