Tag Archives: OCC

In The News: Who’s Afraid of Saule Omarova? How a Joe Biden nominee became the target of a ludicrous red-baiting campaign.

“The administration settled on a smart person with a background in the banking industry and in government as well as path-breaking scholarship on financial regulation,” said Carter Dougherty, a spokesperson for Americans for Financial Reform. “In less polarized times, somebody appointed by a Democratic president who worked for a previous Republican administration and for a Wall Street firm would be the kind of candidate everyone can agree on. But we’re at a moment where a candidate acceptable to Wall Street is a candidate that does the bidding of Wall Street. And that’s not acceptable to the public interest.”

Statement: Leading the Pack, OCC Announces Climate Risk Guidance for Banks by Years End

Acting Comptroller Michael Hsu announced that the Office of the Comptroller of the Currency (OCC) plans to develop climate risk supervisory expectations for large banks and issue guidance for comment by the end of the year. Over the past year, Americans for Financial Reform Education Fund and partners have urged the OCC and other banking regulators to take this important initial step immediately. We applaud Acting Comptroller Hsu for his leadership on this issue and we urge the other regulators to follow suit and issue guidance by the end of the year.

News Release: New Bank Regulator Leadership Welcome; Congress Still Must Roll Back Rule Promoting Predatory Lending

Advocates welcomed reports that Treasury Secretary Janet Yellen plans to appoint a new acting head of the Office of the Comptroller of the Currency (OCC), replacing Blake Paulson, in light of the highly deceptive and false claims that the agency, under Paulson’s leadership, put forward as Congress debates overturning the OCC’s “fake lender” rule.

Letter to Congress: Small Business Advocacy Organization Support CRA Challenge of OCC “True Lender” Rule

Small business advocacy organizations, representing tens of thousands of affiliated small businesses and the interests of the 30 million small businesses in the country, submitted a letter to Congress expressing strong support for Senate Joint Resolution 15, the Congressional Review Act Resolution to repeal the Office of the Comptroller of the Currency’s True Lender Rule.

A pair of hands writing on paper with a pen

Letters to Regulators: Letter to the OCC to Scrutinize New Partnerships Between Risky Share Agreement Companies and Banks

AFREF joined our partners in sending a letter calling on the OCC to carefully scrutinize new partnerships between risky Income Share Agreement companies and banks under OCC supervision. Partnerships like the one between Mentorworks and Blue Ridge Bank have the potential to put borrowers at risk by opening the market to a product that is violating the law & harming borrowers.