A banking entity settled charges with the OCC and the CFPB for assessing multiple overdraft fees on customers’ accounts. The banking entity also settled charges with the CFPB for withholding credit card rewards from consumers and opening accounts without consumers' consent.
News & Insights
The OCC, Federal Reserve Board, FDIC and National Credit Union Administration finalized a policy statement for financial institutions on commercial real estate loan accommodations for borrowers during periods of financial stress.
The Office of the Comptroller of the Currency provided guidance on how the OCC's supervisory approach and processes are applied to the asset management activities of national banks.
The banking agencies set a comment deadline of August 21, 2023 for a proposed to require mortgage originators and secondary market issuers to ensure that "automated valuation models used in certain credit decisions or covered securitization determinations adhere to quality control standards."
The Federal Reserve Board, CFPB, FDIC, National Credit Union Administration and OCC proposed risk management guidance for financial institutions on incorporating "reconsiderations of value" for residential real estate transactions.