Revised Comptroller’s Licensing Manual Booklet. The OCC announced its issuance of the “Changes in Directors and Senior Executive Officers” booklet of the Comptroller’s Licensing Manual, which updates procedures and requirements following the integration of the Office of Thrift Supervision into the OCC in 2011, and incorporates revised regulations that became effective July 1, 2015, addressing changes in directors and senior executive officers of national banks, federal savings associations, and federal branches. (2/16/2017)

OCC releases revised scenarios for stress tests. The OCC released its revised economic scenarios for use by certain financial institutions with total consolidated assets of over US$10 billion for the 2017 stress tests. The previously released scenarios contained incorrect historical values for the BBB corporate yield in 2016. The OCC works with the Federal Reserve and the FDIC to develop and distribute the scenarios. Those agencies also issued corrected data (see FDIC revision and Federal Reserve revision). (2/10/2017)

OCC to host Oklahoma workshop for bank directors. The OCC announced that it will be hosting a workshop in Tulsa, Okla., at the Renaissance Tulsa Hotel & Convention Center, March 27-29, for directors of national community banks and federal savings associations supervised by the OCC. The Building Blocks for Directors workshop will provide practical information on the roles and responsibilities of board participation for both new and experienced directors. The workshop will focus on directors’ duties and core responsibilities, discusses major laws and regulations, and increases familiarity with the examination process. (2/9/2017)

Federal Reserve

Tarullo submits resignation as member of the Board of Governors. The Federal Reserve announced that Daniel K. Tarullo submitted his resignation as a member of the Board of Governors of the Federal Reserve System, effective on or around April 5, 2017. He has been a member of the Board since January 28, 2009. (2/10/2017)


CFPB studies impact of alternative data on credit access for credit-invisible consumers. The CFPB announced that it has launched an examination of ways to expand access to credit for consumers who are credit invisible or who lack enough credit history to obtain a credit score. The agency is seeking public feedback on the benefits and risks of tapping alternative data sources such as bills for mobile phones and rent payments to make lending decisions about consumers whose lack of credit history might otherwise block opportunities. (2/16/2017)