Key insight: The OCC is proposing relaxing its toughest category of supervision, limiting the heightened prudential standards to only the very largest firms. Processing Content Supporting data: The rule would raise the asset threshold from $50 billion to $700 billion, cutting the number of covered banks from 38 to eight. Forward look: The move makes […]
OCC moves to limit toughest standards to megabanks Read More »
Key insight: The Senate Banking Committee hasn’t had an oversight hearing of prudential banking regulators since May 2024. What’s at stake: The lack of oversight comes as the agencies slash staff and change policy direction according to the direction of the Trump administration. Forward look: The Senate Banking Committee has a tight calendar until the
Senate Dems press for oversight hearing before year-end Read More »
Key insight: Banks may now execute crypto transactions on behalf of counterparties in the same manner as they execute trades through a securities brokerage. Supporting data: Interpretive Letter 1188 affirms that market risk is minimized through near-instant offsetting trades, leaving banks with only limited credit exposure. Forward look: Comptroller Gould has been highlighting the value
OCC says banks may broker crypto assets for customers Read More »
Key insight: The Office of the Comptroller of the Currency is paring down nearly all community bank regulatory measures not required by law, leaving it up to examiners to determine applicable requirements. Expert quote: “Community banks have an outsized impact on lending and are vital to the strength of the U.S. economy. Today’s actions relieve
OCC to dramatically reduce community bank regulation Read More »
Adobe Stock Federal regulators have formally begun the process of nullifying their 2023 update to implementing regulations for the Community Reinvestment Act, a Civil Rights-era anti-redlining law that requires banks to invest in the communities they serve. The Federal Reserve Board, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency issued a
Regulators begin process of undoing 2023 CRA rule Read More »
Andrew Harrer/Bloomberg Nationally chartered banks in parts of Texas were authorized to close Monday as needed, due to flooding in the state, according to a proclamation released by the Office of the Comptroller of the Currency. Major flash floods in central and southern Texas, known as the state’s Hill Country, have killed over 80 people,
OCC authorizes bank closures in Texas floods Read More »
Mortgage modifications surged in the first quarter at the nation’s largest banks, reversing a yearlong decline, while foreclosure activity also saw a marked uptick, according to a new government report. The data suggests rising financial stress is hitting certain borrower segments, even as conditions for the mortgage market overall appear relatively strong, based on numbers
Banking giants see surge in loan modifications Read More »