Revised Fiduciary Powers booklet. The OCC issued the “Fiduciary Powers” booklet of the Comptroller’s Licensing Manual. (5/8/2017) 

Revised Public Notice and Comments booklet. The OCC issued the “Public Notice and Comments” booklet of the Comptroller’s Licensing Manual. (5/8/2017)

Comptroller Curry Steps Down. The OCC announced that Comptroller Thomas J. Curry stepped down on May 5, 2017. Keith A. Noreika is now Acting Comptroller of the OCC. (5/4/2017) 

Comptroller Curry discusses future of finance and responsible innovation. At an event sponsored by Northwestern University’s Kellogg School of Management, Comptroller of the Currency Thomas J. Curry discussed the state of financial innovation and its potential to improve the lives of ordinary Americans and the bottom lines of businesses. Comptroller Curry also summarized what the OCC is doing to inspire responsible innovation within the federal banking system. (4/28/2017) 

Risk Governance and Compliance workshops in Oklahoma. The OCC announced that it will be hosting two workshops in Oklahoma City at the Aloft Oklahoma City Downtown-Bricktown, from June 6 to June 7, for directors of national community banks and federal savings associations supervised by the OCC. The Risk Governance workshop on June 6 will offer practical information for directors to effectively measure and manage risks, and will focus on the OCC’s approach to risk-based supervision and major risks in the financial industry. The Compliance Risk workshop on June 7 will focus on the key elements of an effective compliance risk management program, as well as on major compliance risks and critical regulations. Topics of discussion will include the Bank Secrecy Act, Flood Disaster Protection Act, Fair Lending, Home Mortgage Disclosure Act, and the Community Reinvestment Act. (4/27/2017) 


Final handbook for organizers applying for deposit insurance. The FDIC announced that it has released a final handbook to assist parties interested in establishing new banks. The handbook, Applying for Deposit Insurance – A Handbook for Organizers of De Novo Institutions, provides a plain language overview of the requirements and considerations significant to the application process, and to offer organizers a clear and transparent explanation of the path to obtaining deposit insurance. (5/1/2017) 

Federal Reserve 

FOMC statement. The Federal Reserve issued a statement on the Federal Open Market Committee. (5/3/2017) 


Comment sought on plan to assess mortgage servicing rule. The CFPB released its plan to assess the effectiveness of the Real Estate Settlement Procedures Act (“RESPA”) mortgage servicing rule. The CFPB asked the public to comment on the agency’s plan, to suggest sources of data, and generally to provide other information that would help with the assessment. Comments on the plan will be due 60 days after it is published in the Federal Register. (5/4/2017) 

Some student loan and mortgage servicers illegally fail to provide protections to borrowers. The CFPB announced that its recent supervisory work has found that some student loan and mortgage servicers are violating the law by failing to provide struggling borrowers with legal protections. CFPB examiners found that some student loan servicers failed to refund charges imposed on borrowers who had been wrongly denied the right to defer payments while enrolled in school. The report also found that some mortgage servicers did not deliver the required foreclosure protections to borrowers seeking to save their homes, mishandled escrow accounts, and sent incomplete bills. (4/26/2017)