· And ratings should take into account activities that harm low- and moderate-income borrowers and communities of color. The notice from the OCC represents a crucial opportunity. Both community advocates and banks can and should weigh in to help build a stronger, more effective CRA and resist changes that would dilute it.
Public Service Announcements Encouraging Delinquent Borrowers to Contact Lenders for Help to Avoid Foreclosure WASHINGTON – Comptroller of the Currency John C. Dugan unveiled two new Public Service Announcements (PSAs) aimed at encouraging delinquent mortgage borrowers to get help by contacting their lenders or a trusted housing counselor in.
The passage of the Community Reinvestment Act (CRA) in 1977, which encouraged banks and thrifts to help meet the credit needs of communities in their service areas (consistent with safe banking practices) in a sense brought additional competition to smaller or more geographically focused institutions like MDIs; and some studies have connected minority bank failures to the increase in competition (Hays.
Barclays faces fraud lawsuit from NY AG NEW YORK/LONDON (Reuters) – New York’s attorney general has filed a securities fraud lawsuit against Barclays, accusing the British bank of giving an unfair edge in the United States to high. US authorities have launched a securities fraud lawsuit against Barclays linked to its private trading system, or "dark pool".
Regulators Encourage Institutions to Work with Borrowers Affected by. terms on existing loans or extend new credit to help affected borrowers.
· We encourage all banks across the country to consider the regulatory and implementation hurdles and subsequent risks associated with unpredictable sources of enforcement as you weigh the benefit.
· Bank regulators express concern About Balance Sheet Risks. Recent reports and guidance from the financial stability oversight Council (FSOC), the Office of Financial Research (OFR), the Office of the Comptroller of the Currency (OCC), the FDIC, the Federal Reserve Board, and the European Central Bank.
Summary. This bulletin informs national banks, federal savings associations, and federal branches and agencies of foreign banks (collectively, banks) of the principles they should follow to prudently manage the risks associated with offering new, modified, or expanded products and services (collectively, new.
Goldman Sachs’ revenue drops to $7.69 billion in 4Q Goldman Sachs 4Q Earnings Fall 10 Percent, Sending Shares Lower. revenue came in at $7.69 billion, just eclipsing analyst’s expectations of $7.64 billion and over a 12% dip in revenues compared.
The OCC supervises 1,295 national bank charters, 48 federal branches of foreign banks, and 546 federal savings associations (including 194 mutual institutions) in the United States with total assets of approximately $10 trillion as of December 31, 2012. The OCC has established four goals outlined in its strategic plan that help support a strong
gests that banks may be “skimming the top”-lending to high-income residents of low-income communities, thus meeting their regulatory mandate but failing to reach the