The OCC conducted a survey of 95 banks. What are some of the trends the survey revealed about underwriting standards?
Read More »Comptroller Outlines Proposals to Reduce Regulatory Burden for Small Banks
While Curry said these legislative proposals are meaningful steps taken toward achieving relief from regulatory burden for community banks, he admitted there are other ways to make smaller institutions financially viable.
Read More »Fed to Affected Borrowers: Use Foreclosure Relief Funds or Lose Them
Borrowers who are owed relief funds under the Independent Foreclosure Review may lose that money if they do not meet the Fed's deadline for requesting a replacement check.
Read More »OCC to Test Banks for TRID Compliance
The OCC provided guidance on what to expect in their forthcoming TRID compliance exams directed to “chief executive officers and compliance officers of national banks and federal savings associations, federal branches and agencies, department and division heads, all examining personnel, and other interested parties.”
Read More »Banks Need to Take Precautions With Credit Risk to Avoid Repeat of Financial Crisis
In the last 18 months, however, banks have generally become profitable as economic conditions have improved, unemployment is down, and loan demand has increased, leading Curry to ask: “Where do we go from here? What will it take to ensure that banks remain solvent, stable, and secure in their role in the payments and credit system?”
Read More »First-Lien Mortgage Performance Improves While Foreclosure Metrics Decline
Foreclosure starts and foreclosure completions were also down over the year, according to the OCC. Servicers initiated 70,728 foreclosures during Q2, which was down from 11.3 percent in the same quarter in 2014. Completed foreclosures during Q2 totaled 37,725, which was a drop of 23.4 percent from a year earlier
Read More »Comptroller of the Currency Discusses Progress Made Toward Rehabilitating Urban Communities
Urban stabilization and revitalization have long been at the top of the OCC's national agenda, Curry said, and Cleveland and other Midwestern cities have seen their share of foreclosures, shuttered manufacturers, and population outflow during and since the financial crisis.
Read More »OCC Is Concerned That Banks ‘Continue to Fail’ With SCRA Compliance
The Office of the Comptroller of the Currency (OCC) has expressed concern that some banks and nonbank financial institutions are failing in the area of compliance with the Servicmember Civil Relief Act (SCRA) of 2003 and not providing members of the military with all the protections the law affords them.
Read More »OCC Highlights Innovation in Community Bank Space
With many smaller banks either failing or struggling to continue operations due to increased costs of doing business, Comptroller of the Currency Thomas Curry recently spoke at the Federal Home Loan Bank of Chicago about some of the latest innovations brought about to help community banks get back in the lending game.
Read More »OCC Releases Community Reinvestment Act Evaluations for 33 Financial Institutions
The Office of the Comptroller of the Currency (OCC) on Wednesday released a list of Community Reinvestment Act (CRA) performance evaluations for 33 financial institutions.
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