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Tag Archives: OCC

Back to the Future

In a move reminiscent of 2008’s increased popularity of subprime loans, the Office of the Comptroller of the Currency issued a bulletin Monday to national banks and federal associations that outlines practices to help manage programs that originate loans with a loan-to-value ratio over 100 percent. But is this responsible lending, or the same mistake from nearly a decade ago?

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Trump Administration Moves to Appoint New Comptroller of the Currency

On Tuesday, the Office of the Comptroller of the Currency announced the stepping down of Comptroller Thomas Curry on May 5. That day, U.S. Treasury Secretary Steven Mnuchin announced his intention to appoint Keith Noreika as a Deputy Comptroller and designate him the First Deputy Comptroller of the Office of the Comptroller of the Currency (OCC). Noreika will become Acting Comptroller of the Currency on May 5 and is currently a partner at Simpson Thacher & Bartlett LLP and was a partner at Covington & Burling, specializing in banking regulation.

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Wells Fargo Settles Suit, Receives CRA Score

Wells Fargo received its Community Reinvestment Act Rating (CRA), in which it received high scores, despite an overall score of "needs improvement." On the same day, the ban announced an agreement in principal to settle a class action lawsuit regarding claims that Wells Fargo opened accounts without the consent of its customers.

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Groups Voice Concerns Over OCC’s FinTech Charter


The Office of the Comptroller of the Currency’s announcement in early December that it would grant a special purpose national bank charter to non-bank financial technology companies is causing no small amount of concern in the industry.

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