Office of the Comptroller of the Currency

The Silver Anniversary of the "Keating Five" Meeting - Speaking Truth to Power

William K. Black | Posted 04.09.2012

Read More: Michael Patriarca, Mccain Keating Five, John McCain, Keating Five Scandal, Keating Five, Office of the Comptroller of the Currency, Savings and Loan Scandal, Regulation, Financial Regulation, Business News
William K. Black

Today is the 25th anniversary of an infamous savings and loan fraud, the use of five senators to escape sanction for a massive violation of the law. I call on President Obama to recognize the hero of this by appointing financial regulator Michael Patriarca as head of the Office of the Comptroller of the Currency.

Read Post

Ben Hallman

'I Don't Trust A Word They Say'

HuffingtonPost.com | Ben Hallman | Posted 05.10.2012

Read More: Foreclosure Crisis, Foreclosure, Occ, SunTrust Bank, Foreclosure Review, Independent Foreclosure Review, Wells Fargo, Office of the Comptroller of the Currency, Business News

Bob Hale nearly lost his Concord, Mass., home to foreclosure in 2010 as a result of what he claims were bank errors. That would make him a prime ca...

Read Whole Story

Bank Regulators Using Mortgage Deal To Levy Their Own Fines

Reuters | Posted 04.10.2012

Read More: Video, Foreclosure Crisis, Reuters, Office of the Comptroller of the Currency, Business News, National Mortgage Settlement, Housing Crisis, Foreclosure Settlement, Business News

* Fed penalties are part of April foreclosure agreement * Penalties are included in federal-state deal with banks * OCC ...

Read Whole Story

Loren Berlin

Government's 'Good News' For Defrauded Homeowners Questioned

HuffingtonPost.com | Loren Berlin | Posted 01.04.2012

Read More: Foreclosure Crisis, Occ, Independent Foreclosure Review, Office of the Comptroller of the Currency, Mortgage Fraud, Compensation, Foreclosure, Housing Crisis, Business News

"If you faced foreclosure in 2009 or 2010, the government may have good news for you," reads new advertisements released by the federal government on ...

Read Whole Story

WATCH: Reporter Finds Himself Victim Of Foreclosure Fraud He's Investigating

The Huffington Post | Harry Bradford | Posted 11.29.2011

Read More: Poynter Institute, JPMorgan Chase, Housing Bust, Foreclosure Crisis, Video, Morgan Stanley, Office of the Comptroller of the Currency, Bank of America, Mortgage Crisis, Klas, George Knapp, Veterans, Business News

Improper foreclosure practices are so widespread in Las Vegas that one reporter trying to expose them instead found he too was a victim of foreclosure...

Read Whole Story

Occupy Wall Street Needs Voice From Main Street

David Paul | Posted 12.09.2011

Read More: American Banker, Lloyd Blankfein, Aig, Bank Deregulation, Goldman Sachs, JP Morgan, Morgan Stanley, Derivatives, Wells Fargo, Office of the Comptroller of the Currency, Citibank, Occupy Wall Street, Bank of America, Federal Reserve, Jamie Dimon, Business News
David Paul

So far, one group has been fairly quiet, if the point is to address the undue political clout and financial power -- to say nothing of economic risk -- now manifest in our leading banks. It is the voice of the American banker.

Read Post

Seriously Delinquent Mortgages Again On The Rise

Posted 11.29.2011

Read More: Job Losses, Video, Office of the Comptroller of the Currency, Financial Crisis, Homeowners, Foreclosure, Regulators, Delinquency Rate, Mortgage Payments, Business News

WASHINGTON - Borrowers are making their mortgage payments on time more frequently compared to a year ago, but delinquency rates remain elevated as...

Read Whole Story

Fed Will Provide Banks With Guidance If Country Defaults

Posted 09.27.2011

Read More: Treasury Department, Congress, Debt Ceiling, President Barack Obama, Office of the Comptroller of the Currency, FTN Financial, Fed Chairman Ben Bernanke, Federal Reserve, Credit Rating, U.S. Default, Stone & McCarthy, Philadelphia Federal Reserve Bank, Barbara Hagenbaugh, Business News

(Mark Felsenthal) - The Federal Reserve plans to provide guidance to banks soon on how to handle the potentially turbulent financial waters if the...

Read Whole Story

JPMorgan Pays $228 Million To Settle Bid-Rigging Charges

Posted 09.06.2011

Read More: JPMorgan Chase, Irs, Bid Rigging, Attorney General, Office of the Comptroller of the Currency, Federal Reserve, Sec, Justice Department, Muni Debt, Business News

(AP) WASHINGTON -- A JPMorgan unit is paying $228 million to settle civil fraud charges that it rigged dozens of bidding competitions to win business ...

Read Whole Story

Regulators Warns Banks Of 'Effective And Malicious' Hacker Attacks

Posted 08.28.2011

Read More: U.S. Senate, Federal Financial Institutions Council, Bank Hacking, Authentication Mechanisms, Citigroup Inc, Computer Hacking, Federal Deposit Insurance Corp, Office of the Comptroller of the Currency, Federal Reserve, Banks, Consumers, Bank Regulators, Hackers, Video, Business News

WASHINGTON - Bank regulators warned banks to be on guard against increasingly clever computer hacking on Tuesday, indicating heightened alert agai...

Read Whole Story

More Examiners Will Now Work At Companies They Regulate

Wall Street Journal | AARON LUCCHETTI | Posted 08.20.2011

Read More: Credit Suisse Group AG, Citigroup Inc., Goldman Sachs Group Inc., Barclays Plc, Embeds, Morgan Stanley, Bank of America Corp., J.P. Morgan Chase & Co., Office of the Comptroller of the Currency, Lloyd C. Blankfein, Wall Street Banks, Regulators, Bank of New York Mellon Corp., Federal Reserve Bank of New York, Deutsche Bank AG, UBS AG, Business News

As part of a push to prevent another financial crisis, the Federal Reserve Bank of New York and the Office of the Comptroller of the Currency are incr...

Read Whole Story

Obama Announces Pick For FDIC Chairman

AP | By DARLENE SUPERVILLE | Posted 08.10.2011

Read More: Elizabeth Warren, Fdic, George W. Bush, Fannie Mae, Federal Housing Finance Agency, Martin J. Gruenberg, Barack Obama, Tim Johnson, Freddie Mac, Consumer Financial Protection Bureau, Tim Geithner, Martin Gruenberg, Federal Deposit Insurance Corp, Office of the Comptroller of the Currency, Federal Reserve Board of Governors, Banks, John C. Dugan, Timothy Geithner, Sheila Bair, Business News

WASHINGTON -- President Barack Obama said Friday that he will nominate Martin J. Gruenberg to become chairman of the Federal Deposit Insurance Corp. ...

Read Whole Story

Simon Johnson: When Regulators Side With The Regulated

The New York Times | Simon Johnson | Posted 07.19.2011

Read More: Supreme Court, Regulation, Regulator, Simon Johnson, Big Banks, Financial Regulation, Office of the Comptroller of the Currency, American Bankers Association, Business News

The Office of the Comptroller of the Currency is one the most important bank regulators in the United States — an independent agency within the Trea...

Read Whole Story

GOP Congressman vs. Elizabeth Warren

The Baseline Scenario | Simon Johnson | Posted 05.30.2011

Read More: Tom Miller, Elizabeth Warren, Occ, Shelley Moore Capito, Consumer Financial Protection Bureau, Office of the Comptroller of the Currency, Cfpb, Gop, House Subcommittee on Financial Institutions and Consumer Credit, Department of Justice, Spencer Bachus, House Financial Services Committee, Republicans, Politics News

By Simon Johnson The Baseline Scenario Representative Spencer Bachus, Republican chair of the House Financial Services Committee, famously remarke...

Read Whole Story

Why Republicans Hate Warren's CFPB But Love Another Bank Regulator

Stacy Mitchell | Posted 05.25.2011

Read More: Elizabeth Warren, Occ, Dodd-Frank, Community Banks, Financial Reform, Office of the Comptroller of the Currency, Cfpb, Move Your Money, Banks, Financial Crisis, Spencer Bachus, Consumer Protection, Big Banks, Business News
Stacy Mitchell

What's really at issue in the fight over the CFPB is not how the agency is structured or how much power it will have, but whose interests it serves.

Read Post

Shahien Nasiripour

Megabank Warns It May Be Punished Over Foreclosure Practices

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011

Read More: Foreclosure Crisis, Occ, Wells Fargo, SunTrust Banks, Ally Financial, Bank of America, Foreclosure Fraud, Hsbc, Office of the Comptroller of the Currency, Business News, Foreclosure, Citigroup, Business News

UPDATE 7:00 PM: U.S. Bancorp, the nation's 10th-biggest lender by assets, also warned investors of impending penalties, its annual report shows. The...

Read Whole Story

Shahien Nasiripour

Multi-Billion Dollar Mortgage Settlement Jeopardized?

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011

Read More: Foreclosures, Foreclosure Crisis, Occ, Fdic, Obama Foreclosure, Office of the Comptroller of the Currency, Foreclosure Fraud, Business News

The Obama administration is seeking to broker a deal that would have the nation's largest mortgage lenders agree to pay as much as $30 billion in fine...

Read Whole Story

Shahien Nasiripour

A QUICK FIX: Bank Regulator's Easy Solution May Hurt Homeowners

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011

Read More: Foreclosure Crisis, Occ, Obama Foreclosures, Office of the Comptroller of the Currency, Foreclosure Fraud, Business News

The federal bank regulator overseeing the nation's largest lenders is pushing for a quick and modest settlement to the months-long federal and state p...

Read Whole Story

Regulator Orders HSBC to Stop Financing High-Cost Tax Time Loans

Dory Rand | Posted 05.25.2011

Read More: Taxes, Hsbc, H&R Block, Predatory Lending, Occ, Jackson Hewitt, Office of the Comptroller of the Currency, Tax Refund Anticipation Loans, Business News
Dory Rand

While increased regulatory scrutiny is needed in the short term, we look forward to the RAL product's obsolescence.

Read Post

Move Your Money: Bank Regulators Hold Hearings in Los Angeles

Dennis Santiago | Posted 05.25.2011

Read More: Bank Regulation, Dennis Santiago, Community Reinvestment Act, Congress, Fdic, Office of the Comptroller of the Currency, Office of Thrift Supervision, Move Your Money, Federal Reserve, Institutional Risk Analytics, Barack Obama, Richard Alarcon, Los Angeles News
Dennis Santiago

These hearings that could improve the Community Reinvestment Act, the 1977 law designed to ensure banks remain connected to communities. Regulators decided it may be time to update how this law is enforced.

Read Post

Shahien Nasiripour

Elizabeth Warren: GOP Reform Plan Is A Failure, Republicans Choosing Banks Over Families

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011

Read More: Elizabeth Warren, Occ, Mitch McConnell, The Financial Fix, Financial Reform, Wall Street Reform, Christopher Dodd, Cfpa, Consumer Financial Protection Agency, Office of the Comptroller of the Currency, Financial Crisis, Richard Shelby, Consumer Protection, Business News

It's time for senators -- especially the Republicans -- to square their upcoming votes on financial reform with their long-professed desire to protect...

Read Whole Story

The Death Squad of the Consumer: the Credit Scoring Agencies

Georges Ugeux | Posted 05.25.2011

Read More: Transparency, Credit Report, Transunion, Office of the Comptroller of the Currency, Experian, Credit Score, Credit Rating Agencies, Banks, United States, Credit Cards, Federal Trade Commission, Equifax, Financial Institutions, Home News
Georges Ugeux

It is rather strange that, in the fury of the abuses by credit card issuers, little attention has been paid to those who, on behalf of the banks, ha...

Read Post

Shahien Nasiripour

Less Than One Percent Of Modified Mortgages In Obama Foreclosure Plan Involve Principal Cuts

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011

Read More: Financial Crisis, Housing Crisis, Foreclosure Crisis, Occ, Ots, Office of the Comptroller of the Currency, Office of Thrift Supervision, Hamp, Making Home Affordable, Home Affordable Modification Program, Mortgage Modification, Loan Modifications, Business News

This story was updated at 6:10 p.m. ET. As few as 0.1 percent of mortgage modifications initiated under the Obama administration's signature foreclos...

Read Whole Story

What Big Banks Fear More Than the CFPA

Stacy Mitchell | Posted 05.25.2011

Read More: JP Morgan Chase, U.S. Bank, Merrill Lynch, Wall Street, Wells Fargo, Financial Reform, Office of the Comptroller of the Currency, Preemption, Chris Dodd, Melissa Bean, Big Banks, Eliot Spitzer, Lisa Madigan, Citigroup, Business News
Stacy Mitchell

At stake in the financial reform debate is an issue that has received far less attention than the CFPA, but is at least as important: Whether Congress will restore the authority of states to oversee national banks.

Read Post

Shahien Nasiripour

Top Bank Regulator Changes Tune, Now Calls For Independent Consumer Agency

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011

Read More: Financial Crisis, Occ, Office of the Comptroller of the Currency, Comptroller of the Currency, John Dugan, Cfpa, Consumer Financial Protection Agency, Consumer Protection, Financial Reform, Regulatory Reform, Wall Street Reform, Aba, Elizabeth Warren, The Financial Fix, Business News

This story has been updated After months of criticizing the Obama administration's proposal to create a consumer-focused agency dedicated to protecti...

Read Whole Story