OCC

Regulators begin process of undoing 2023 CRA rule

Regulators begin process of undoing 2023 CRA rule

Adobe Stock Federal regulators have formally begun the process of nullifying their 2023 update to implementing regulations for the Community Reinvestment Act, a Civil Rights-era anti-redlining law that requires banks to invest in the communities they serve. The Federal Reserve Board, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency issued a […]

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OCC authorizes bank closures in Texas floods

OCC authorizes bank closures in Texas floods

Andrew Harrer/Bloomberg Nationally chartered banks in parts of Texas were authorized to close Monday as needed, due to flooding in the state, according to a proclamation released by the Office of the Comptroller of the Currency. Major flash floods in central and southern Texas, known as the state’s Hill Country, have killed over 80 people,

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Banking giants see surge in loan modifications

Mortgage modifications surged in the first quarter at the nation’s largest banks, reversing a yearlong decline, while foreclosure activity also saw a marked uptick, according to a new government report. The data suggests rising financial stress is hitting certain borrower segments, even as conditions for the mortgage market overall appear relatively strong, based on numbers

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