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Texas Federal Court Grants Preliminary Injunction in Community Reinvestment Act Lawsuit

On March 29, a Texas federal court granted a preliminary injunction enjoining the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (collectively, the...more

4/3/2024 / Community Reinvestment Act , Consumer Financial Products , Final Rules , Financial Institutions , Financial Regulatory Reform , Financial Services Industry , Preliminary Injunctions

OCC Issues “Buy Now, Pay Later” Guidance to Banks

This week, the Office of the Comptroller of the Currency (OCC) issued guidance to banks on managing the risks associated with “buy now, pay later” (BNPL) lending. Specifically, the bulletin addresses BNPL loans that are...more

12/8/2023 / Banks , Borrowers , Buy Now Pay Later (BNPL) , Consumer Financial Products , Financial Services Industry , Installment Agreements , Late Fees , Lenders , Loans , OCC

OCC Issues Guidance on Applicability of Legal Lending Limit to Purchased Loans

On August 8, the Office of the Comptroller of the Currency (OCC) issued guidance on the applicability of the legal lending limit (LLL) to purchased loans. This guidance applies to community banks’ purchases of loans. In...more

8/15/2023 / Banks , Consumer Financial Products , Financial Regulatory Reform , Loans , New Guidance , OCC , Repurchases

OCC Identifies Liquidity, Operational, Credit and Compliance Risks as Key Themes in Semiannual Report

On June 14, the Office of the Comptroller of the Currency (OCC) published the spring edition of its Semiannual Risk Perspective, which discusses key issues facing banks. The good news is that the federal banking system saw...more

6/20/2023 / Banks , Consumer Financial Products , Credit , Financial Services Industry , Liquidity , OCC , Ransomware

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