Occ news and trends

Chopra Calls for Deposit Insurance Reform Following Okla. Bank Failure
Bank Regulation // November 18, 2024

America’s top consumer watchdog is calling for deposit insurance reform. Rohit Chopra, director of the Consumer Financial Protection Bureau (CFPB) made this argument last week following the failure of Oklahoma lender The First National Bank of Lindsay, according to testimony released by the bureau Monday...

BaaS Faces Regulatory Reckoning: OCC and FDIC Actions Underscore Growing Scrutiny
Digital Banking // October 23, 2024

Banking-as-a-service (BaaS), as a business model, promises to reshape financial services. And a drumbeat of regulatory actions and continued scrutiny from a veritable alphabet soup of regulators promises to reshape BaaS. The model, generally speaking, is one in which non-banks gain access to banking features,...

OCC Cites 4 Regional Banks for ‘Unsafe or Unsound’ Practices
Bank Regulation // October 18, 2024

The OCC has released enforcement actions against national banks accused of “unsafe or unsound” practices. The Office of the Comptroller of the Currency (OCC) said it “uses enforcement actions against banks to require the board of directors and management to take timely actions to correct the deficient practices or...

Regulators Raise Exemption Thresholds Regarding Mortgages, Consumer Credit and Leases
Regulation // October 15, 2024

The Consumer Financial Protection Bureau (CFPB) has announced rules related to threshold adjustments for mortgage loan appraisals, consumer credit transactions and consumer lease transactions. All three threshold adjustments will increase, effective Jan. 1, 2025. The exemption threshold for special appraisal requirements for “higher-priced mortgage loans”...

Interviews & Exclusives
From Partnerships to Problem Banks: FDIC Report Looms Large

September 03, 2024
Technology and third-party relationships — with service providers and digitally-focused FinTechs — have helped transform banks’ operations. Banks have been able to pivot fully into the digital age, serving a broader swath of customers than they otherwise might have if those partnerships had not been struck in the first place. The PYMNTS Intelligence report “The […]

Trending: Banking Execs Warn House Financial Services Hearing of Regulatory ‘Ambiguity’

July 12, 2024
Prudent regulation is needed in helping to define the risks and rewards in emerging partnerships between financial institutions and banks — but current regulatory efforts may be too vague, critics...

Silvergate’s Crisis Gives Regulators Ammunition to Keep Crypto from Mainstream Banking 

March 02, 2023
Silvergate’s existential crisis may give regulators the ammunition they need to keep crypto and mainstream banking separate. As reported here, Silvergate Capital said in a U.S. Securities and Exchange Commission filing this...

Banking-as-a-Service FinTechs Tread New Regulatory Waters

August 16, 2022
In a policy letter that read like part announcement and part warning, the Consumer Financial Protection Bureau (CFPB) put FinTechs on notice in April, with CFPB Director Rohit Chopra saying...

Quick Reads
OCC’s Hsu Supports Chartering Regime for Nonbanks

November 20, 2024
Acting Comptroller of the Currency Michael J. Hsu said he supports “federal payments regulation and a chartering regime for nonbanks.” In a written statement on the state of the federal banking system prepared for his Wednesday (Nov. 20) testimony before the House Financial Services Committee, Hsu said that if FinTechs remain licensed and regulated only […]

Chopra Calls for Deposit Insurance Reform Following Okla. Bank Failure

November 18, 2024
America’s top consumer watchdog is calling for deposit insurance reform. Rohit Chopra, director of the Consumer Financial Protection Bureau (CFPB) made this argument last week following the failure of Oklahoma...

OCC Cites 4 Regional Banks for ‘Unsafe or Unsound’ Practices

October 18, 2024
The OCC has released enforcement actions against national banks accused of “unsafe or unsound” practices. The Office of the Comptroller of the Currency (OCC) said it “uses enforcement actions against banks to require the...

Regulators Raise Exemption Thresholds Regarding Mortgages, Consumer Credit and Leases

October 15, 2024
The Consumer Financial Protection Bureau (CFPB) has announced rules related to threshold adjustments for mortgage loan appraisals, consumer credit transactions and consumer lease transactions. All three threshold adjustments will increase,...