OCC

Top GOP members of the House Financial Services Committee have asked the Office of the Comptroller of the Currency for details regarding the hire of Prashant Bhardwaj, who left the agency, and what rulemakings he was involved in.

The OCC, part of the Treasury Department, said Tuesday the products present credit, compliance and reputation challenges for the banks.

Michael Hsu is voicing concerns about the increasing disintermediation of accountability for banking services as more banks collaborate with nonbank entities. In an interview, he also addresses industry concerns about the Basel endgame proposal and notes banks' growing interest in tokenizing real-world assets.

The small community bank was bought up by crypto-focused investors and quickly repositioned to cater to tech innovators. Is this problematic or perfectly legitimate?

The Office of the Comptroller of the Currency granted federally chartered banks permission Monday to close branches in California, Nevada and Arizona affected by Tropical Storm Hilary.

The three former Washington Federal Bank for Savings board members were accused of giving the OCC false information in an attempt to hide embezzlement. They could face up to five years in prison for attempting to deceive the OCC.

The Office of the Comptroller of the Currency levied the civil money penalty against American Express National Bank for failing to implement adequate call-monitoring controls and track customer complaints with a third-party affiliate.

The acting comptroller of the currency says regulators are aligned on rule changes, but noted that forthcoming policy proposals are being driven by more than just recent bank failures.

The Federal Reserve, Federal Deposit Insurance Corp., Office of the Comptroller of the Currency and National Credit Union Administration have finalized guidance on handling troubled debt.

Acting Comptroller of the Currency Michael Hsu said customers' trust in banking relationships is critical to the financial system as the agency seeks comment on what a survey of trust and banking should look like.

The interagency report recommends practices for financial institutions to manage relationships with fintechs and other third parties.

Bankers and a key government supervisor say the downfalls of multiple regional lenders reminded regulators that traditional M&A is better for the industry than failed-bank-deals.

The agencies warned banks to fix fee programs before they result in penalties.

Democrats on the Banking Committee, led by Sen. Jack Reed of Rhode Island, say the peer-to-peer payments network's customer reimbursement and anti-money-laundering policies need more thorough scrutiny.

The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency have issued statements on crypto risks this year. Industry participants warn about a chilling effect.

The idea that banks might be unmanageably large ignores the fact that the U.S. is full of well-managed firms that are far bigger than even the largest banks.

It is rare for banks, especially large ones, to receive unsatisfactory ratings in their Community Reinvestment Act examinations. The San Antonio bank has now done it twice in a row.

The revised policy increased maximum penalties for the largest banks, outlined stronger accountability measures and expanded the OCC's authority to restrict business activities.

The Delaware bank, which is also seeking to move its headquarters to South Dakota, says a national charter will allow it to more easily expand across the country as it builds on its banking-as-a-service business model.

The appointment creates a "full-fledged office" within the Office of the Comptroller of the Currency devoted to national banks' climate-change exposures, acting Comptroller Michael Hsu says.