Brendan Pedersen

The OCC is plowing ahead on plans to modernize the Community Reinvestment Act, but a growing consensus of industry and community voices says now is not the time for a major overhaul.

Lenders and community groups say it's a mistake for the banking agencies to move forward during a national crisis. But Comptroller of the Currency Joseph Otting says updated Community Reinvestment Act rules would speed relief to neighborhoods and small businesses.

The agencies were up and running Monday but have taken steps to allow employees to work from home.

The administration proposed to end the housing trust funds now financed by Fannie Mae and Freddie Mac, and to subject numerous agencies to the congressional appropriations process, among other things.

In letters to Freddie Mac and Fannie Mae, six Democrats asked how the mortgage giants are factoring extreme weather into their risk modeling.

Citibank is on the hook for just under $18 million in flood insurance violations, according to the Office of the Comptroller of the Currency.

Though she stopped short of mentioning the FDIC and OCC by name, Fed Gov. Lael Brainard objected to several key elements of those agencies' proposal.

The board- and management-level handing of CRE concentration was the chief concern of FDIC examiners, making up more than 56% of all the supervisory recommendations regulators made in the two-year period.

Fannie Mae and Freddie Mac’s exemption from the Qualified Mortgage rule is on borrowed time, but a House bill would allow lenders to use the mortgage giants’ guidelines for documenting borrower income.

The Office of the Comptroller of the Currency found deficiencies related to the bank's holding period for "other real estate owned."