OCC

The agencies said banks could receive Community Reinvestment Act credit for activities addressing the virus fallout, and clarified earlier guidance encouraging banks to dip into their capital buffers.

Groups often will oppose mergers on Community Reinvestment Act grounds. But the proposal would tighten standards for when the agency includes “adverse comments” in the process.

Regulators issued a rule that gives banks the OK to dip into capital to help households and businesses cope with the economic impact of the coronavirus.

After resigning last year under pressure from federal policymakers, the former executive received no severance benefits or annual incentive award.

The agencies were up and running Monday but have taken steps to allow employees to work from home.

The Comptroller's Office has provided banks with guidance on how to structure relationships with data aggregators. Now the bureau needs to focus on the bank-consumer connection.

The OCC and FDIC said banks should consider waiving fees, be flexible with loan repayments and that they would not be penalized if they close branches for precautionary reasons.

From scams to watch out for to the role banks play in an SBA virus loan program, news about the pandemic's impact was everywhere. Also: As State Farm bows out, U.S. Bank seizes an expansion opportunity; CFPB sues Fifth Third for allegedly opening phony accounts; and more from this week's most-read stories.

The OCC and FDIC’s proposal for modernizing the community reinvestment law would give banks below $500 million of assets the option to keep the current regime. But bankers and industry representatives say that threshold should be higher.

The agency's recent update to its guidelines for banks on working with data aggregators and other third parties was not extreme, but some critics say its heavy emphasis on security could be a setback for open banking.