Bank regulatory agencies requested comment on a proposal to increase the strength and resilience of the banking system. The proposal would modify large bank capital requirements to better reflect underlying risks and increase the consistency of how...
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July 28, 2023, 08:00 AM
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The Office of the Comptroller of the Currency (OCC) selected Kelly Skalicky, CEO and president, Stearns Bank along with six additional new committee members, to serve on its Minority Depository Institutions Advisory Committee (MDIAC). The primary...
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March 24, 2021, 07:30 AM
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The Office of the Comptroller of the Currency (OCC) issued a rule that determines when a national bank or federal savings association (bank) makes a loan and is the “true lender,” including in the context of a partnership between a bank and a third...
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October 28, 2020, 09:00 AM
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The Office of the Comptroller of the Currency (OCC) assessed a $60 million civil money penalty against Morgan Stanley Bank, N.A., and Morgan Stanley Private Bank, N.A.The OCC took these actions based on the banks’ failure to exercise proper oversight...
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October 12, 2020, 09:10 AM
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Comptroller of the Currency Joseph M. Otting made the following statement during a Financial Stability Oversight Council meeting regarding the condition of the federal banking system and its response to the COVID-19 national emergency."Thank you, Mr....
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March 27, 2020, 09:00 AM
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Federal banking agencies find that risk in the portfolio of large syndicated bank loans has declined, due to improving conditions in most sectors. Despite the improvement, the dollar volume of loans rated below “pass,” as a percentage of total loans...
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January 28, 2019, 07:51 AM
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The Office of the Comptroller of the Currency (OCC) announced it will begin accepting applications for national bank charters from nondepository financial technology (fintech) companies engaged in the business of banking.“Over the past 150 years...
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August 02, 2018, 08:00 AM
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CIT Group Inc. announced that Michael Brosnan has been named to its Board of Directors effective November 10. Additionally, John Oros has stepped down from the Board due to the demands and requirements of his position with J.C. Flowers & Co.“We are...
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November 15, 2016, 07:28 AM
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Accelerating loan growth accompanied by eased underwriting is a leading concern for U.S. banks in the Office of the Comptroller of the Currency's (OCC) semiannual Risk Perspective Report released in late December. The report, a review of key risks...
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December 30, 2014, 08:12 AM
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An inter-agency review of complex loans commonly held by multiple U.S. and foreign financial institutions indicates that improvements in asset quality have stalled year-over-year and underwriting standards have diminished post-crisis, highlighting...
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October 15, 2013, 07:21 AM
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