OCC

Agility Bank, one of two women-led groups seeking charters, is looking to open next spring.

National banks just got the OCC's go-ahead this summer to hold and transfer digital assets like bitcoin for customers, but the Paris-based bank has already vetted the technology needed to do the job.

Regulators said they will allow banks to deduct Treasury securities — a source of market volatility in the pandemic — from the net stable funding ratio on the same day they provided relief from auditing requirements.

House Democrats had already approved a measure blocking the regulation reforming the Community Reinvestment Act, but the resolution faced more resistance in the upper chamber.

Lawmakers’ attempt to stall the OCC’s final rule, preventing regulators from reforming a 1977 law meant to help underserved communities, does far greater harm than any changes that are raising objections, says the acting comptroller.

The $85 million penalty and the bank's "needs to improve" rating on its Community Reinvestment Act exam were tied to alleged violations of the Military Lending Act and Servicemembers Civil Relief Act.

Examiners are skilled at spotting trouble but often do too little to correct it, as the latest revelations about Citi once again show. Prompt supervisory intervention is essential to protecting the integrity of the financial system.

CEO Michael Corbat and CFO Mark Mason dodged questions from analysts about how much time and money Citigroup expects to spend to address recent enforcement actions.

The regulator found that the financial services company failed to take precautions in disposing of hardware that contained sensitive customer information.

The company's mistaken payment to Revlon creditors and other lapses are said to have contributed to Citi's recent leadership shake-up. On Wednesday, the OCC and Fed ordered the company to fix its risk management problems.