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Tag Archives: OCC

Comptroller Curry Named FFIEC Chairman

The Office of the Comptroller of the Currency (OCC) announced that Comptroller Thomas J. Curry has been named chairman of the Federal Financial Institutions Examination Council (FFIEC) for a two-year term.

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Senator Pens Letter Urging Simplification of Mortgage Rules

U.S. Senator and Senate Banking Committee member Bob Corker (R-Tennessee) warned federal regulators Tuesday to stick to simplified, synchronized lending rules in order to avoid driving out private capital. Corker specifically pointed to the qualified residential mortgage (QRM) rule, which includes an exemption on risk retention for loans sold to Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA)--an exemption Corker believes may drive lenders away from the private market.

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Regulators Unveil Appraisal Rules for Lenders

Starting in January 2014, mortgage lenders will work under new rules governing the handling of appraisals and other home value estimates. The Consumer Financial Protection Bureau (CFPB) announced Friday the adoption of a new rule intended to improve consumer access to appraisal reports. In addition, the CFPB (in partnership with five other federal regulatory agencies) issued a rule establishing specific appraisal requirements for higher-priced mortgage loans and properties flipped within six months of purchase.

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Agencies Announce Delay on Basel III Implementation

The implementation of the Basel III capital rules may be postponed beyond the start of 2013, according to a joint statement released by the Office of the Comptroller of the Currency, the FDIC, and the Federal Reserve. The announcement follows a comment period during which many trade organizations and institutions expressed apprehension about the new requirements.

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Regulators Advise Institutions Affected by Hurricane Sandy

Federal regulators released a notice Tuesday stating their support for financial institutions operating in areas affected by Hurricane Sandy. They both encouraged affected institutions to work to meet the needs of their communities and expressed their lenience on certain reporting and publishing requirements for those institutions.

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Wolters Kluwer Announces 16th Annual CRA & Fair Lending Colloquium

Compliance and risk management professionals will flock to Texas in November for Wolters Kluwer Financial Service's 16th annual CRA & Fair Lending Colloquium. The financial services company is hosting the event November 12-15 at The Westin La Cantera in San Antonio. The colloquium is an opportunity for senior compliance and risk management executives to discuss their most pressing concerns with top regulators and industry leaders.

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Fed Moves to Delay Stress-Test Rules for Banks

Fed

The Federal Reserve said Monday that it may delay rules under Dodd-Frank related to stress tests for big banks until next year. According to a release, the change would hold off on implementation until September 2013, giving some elbow room to banks, state member banks, and savings and loans institutions with anywhere between $10 billion and $50 billion in total assets. The move follows a December 2011 rulemaking proposal to green-light rules and procedures for stress tests under Dodd-Frank.

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