BANK Wire – Study links higher CRE concentrations with bank failure

Description

Abstract: This issue’s “BANK Wire” discusses a Federal Reserve and OCC white paper that analyzes the impact of the OCC’s 2006 commercial real estate concentration guidance regarding enhanced credit risk controls. It also looks at an IRS private letter ruling on whether a financial institution has a tax-reporting obligation with respect to account-opening bonuses for new IRAs or Section 529 college savings plans. In addition, it notes a survey showing a swift rise in mobile banking and discusses the Consumer Financial Protection Bureau’s recently published mortgage rule compliance guide.