Tag:
Occ
Latest Headlines
Latest Headlines
Banks begin independent mortgage reviews
Amid the intense focus on the settlement talks between big banks and state attorneys general, people tend to forget that there has already been a mortgage/foreclosure settlement.
Back in April, the deal between various federal regulators--such as the OCC, the OTC and the Fed--and 14 banks and
Get ready for the Consumer Financial Protection Bureau
It seems like we've been talking about the Consumer Financial Protection Bureau for the longest time, even before Dodd-Frank became law. The reality is that the CFPB has yet to even launch. But that will change July 21, when the entity officially starts as the latest financial services industr
OCC worries about leveraged loan revival
Are banks once again taking a much too cavalier attitude toward leveraged loans? The Office of the Comptroller of the Currency (OCC) thinks so.
This is somewhat surprising coming from the OCC, which, under the direction of previous head John Dugan, was often seen as a defender of the industry.
Commodities revenues soar as trading in other assets tank
FICC-like revenues have been cause for worry at a lot of top banks this year. But at least one area within that category has been hot: Commodities trading. It's something that has rebounded nicely, though it remains to be seen whether commodities revenues can provide a stable medium-term boost tha
The Feds weigh in on MERS
Lost somewhat in all the media coverage of the consent decree agreed to by big banks to satisfy federal regulators was the part that dealt with MERS, the much maligned Mortgage Electronic Registration System. The Reston, Va.-based firm, owned by the big mortgage GSEs as well as all of the top
Partial settlement coming on foreclosure fiasco
Any hope for a quick settlement to the foreclosure fiasco dissipated months ago, when it became clear that federal and states officials on one hand and lenders and servicers on the other hand were nowhere near a deal. The fragmentation on the regulatory side has gotten so bad that now there's talk
Foreclosure settlement still far off
Anyone who was hoping for a quick settlement to the multi-prong probes of foreclosure practices by big banks and lenders has been sorely disappointed for months . When the state attorneys general opened their probe, many thought that a settlement would soon follow, creating the necessary guidep
Credit card reform worth the costs?
On the first anniversary of the CARD Act, surveys by the newly empowered Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC) found that late fees, over-limit fees and interest rate hikes have been reduced substantially.
Most proponents of the law
Retail complaints against banks soar
The OCC says complaints from retail customers of the 1,500 banks it regulates will hit 80,000 this year, according to the Associated Press . If that's accurate, it would be the highest in the 15 years the OCC has tracked complaints and more than double the 2008 total. Complaints are also pourin
States say federal regulators dropped ball on foreclosures
A recent headline in the Washington Post --"Regulators flawed in foreclosure oversight"--is the type of headline we've unfortunately become accustomed to. It's yet another sign that the regulatory system had been rendered archaic and unable to respond to fast moving, technology-driven trends.
