entity

Office of the Comptroller of the Currency

Also known as: OCC

Facts (18)

Sources

Regulatory - American Predatory Lending predatorylending.duke.edu Charlie Zong · Duke University 7 facts

claimThe Office of the Comptroller of the Currency, the FDIC, and the Federal Reserve are the three federal agencies responsible for enforcing the Community Reinvestment Act (CRA) for the institutions they regulate.

claimIn January 2004, the Office of the Comptroller of the Currency (OCC) issued a final rule that preempted most provisions of state predatory lending laws from applying to national banks.

referenceThe Office of the Comptroller of the Currency, the FDIC, and the Federal Reserve are the three federal agencies responsible for enforcing the Community Reinvestment Act (CRA) for the institutions they regulate.

claimThe Office of the Comptroller of the Currency's January 2004 rule preempted state-level restrictions or requirements regarding terms of credit, interest rates, disclosure, advertising, or licensing for national banks.

claimThe Office of the Comptroller of the Currency's January 2004 rule stripped states of the ability to regulate nationally chartered banks, which created new incentives for regulatory arbitrage.

accountIn July 2003, the Office of the Comptroller of the Currency (OCC) issued an order preempting the Georgia Fair Lending Act for nationally chartered banks.

claimThe Office of the Comptroller of the Currency objected to the burden of “higher costs, potential litigation exposure, and operational challenges” faced by national and multinational banks, which motivated the issuance of the 2004 preemption rule.

Fair Lending Report of the Consumer Financial Protection Bureau federalregister.gov Consumer Financial Protection Bureau Jul 2, 2024 5 facts

measurementIn 2023, the FDIC, NCUA, FRB, OCC, and CFPB collectively made 33 referrals to the Department of Justice (DOJ) involving discrimination in violation of the Equal Credit Opportunity Act (ECOA).

claimThe Office of the Comptroller of the Currency (OCC) referred one matter to the Department of Justice (DOJ) involving discrimination based on race, color, or national origin in mortgage lending (redlining).

referenceThe Federal Financial Institutions Examination Council (FFIEC) is composed of the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), and the Consumer Financial Protection Bureau (Bureau).

claimThe Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) reported violations of 12 CFR 1002.5(b), 1002.5(c), and 1002.5(d) in 2023, which involve prohibited inquiries about an applicant's race, color, religion, national origin, sex, marital status, or income sources like alimony and child support.

claimThe Interagency Task Force on Fair Lending consists of the Consumer Financial Protection Bureau (CFPB), the Department of Housing and Urban Development (HUD), the Federal Trade Commission (FTC), the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (FRB), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), the Department of Justice (DOJ), and the Federal Housing Finance Agency (FHFA).

The Impacts of Individual and Household Debt on Health and Well ... apha.org American Public Health Association Oct 25, 2021 3 facts

perspectiveFederal bank regulating entities, including the Federal Deposit Insurance Corporation, the Federal Reserve Banks, and the Office of the Comptroller of the Currency, should align their actions to ensure equitable access to high-quality and affordable banking products.

perspectiveFederal bank regulating entities, including the Federal Deposit Insurance Corporation, the Federal Reserve Banks, and the Office of the Comptroller of the Currency, should align their actions to make high-quality and affordable banking products available more equitably.

Predatory Lending Practices - House.gov commdocs.house.gov U.S. House of Representatives, Committee on Banking and Financial Services 2 facts

claimThe Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Office of Thrift Supervision (OTS) lack the legal authority to review the affiliates of a bank depository.

claimThe Assistant Secretary of the Treasury, HUD, the Federal Reserve, the Office of Thrift Supervision (OTS), the Office of the Comptroller of the Currency (OCC), the FDIC, and the FTIC, along with representatives from North Carolina, New York, and Massachusetts, have all stated that legislation is needed to address predatory lending.

2025 Fair Lending Trends | Wolters Kluwer wolterskluwer.com Wolters Kluwer Apr 14, 2025 1 fact

claimThe Office of the Comptroller of the Currency (OCC) continues to prioritize fair lending risk assessments and the examination of bank lending compliance programs in 2025.