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OCC Bulletin 2016-20 has been issued to inform national banks, federal savings associations, and federal branches and agencies of foreign banks of the temporary extension of certain protections under the Servicemembers Civil Relief Act (SCRA), which was renewed on March 31, 2016, with the signing of the Foreclosure Relief and Extension for Servicemembers Act of 2015. [Note: The OCC often sends announcements of such developments well after they occur.] The SCRA amendments continue a temporary provision that extends for one year following a servicemember’s period of military service the protections related to the sale, foreclosure, or seizure of the servicemember’s mortgaged property, or the filing of a legal action to enforce a mortgage obligation or other similarly secured obligation. The temporary extension now expires on December 31, 2017. HUD has updated its “Servicemembers Civil Relief Act Notice Disclosure” (Form 92070) to reflect the extensions.

The Board of Governors of the Federal Reserve System has delivered to Congress the June 2016 report of profitability of credit card operations of depository institutions. The report analyzes the profitability over time of depository institutions' credit card activities by examining the performance of larger institutions that specialize in such activities and of a sample of smaller commercial banks that offer a range of credit services. It also reviews trends in credit card pricing, including changes in interest rates.

The Federal Reserve System has published the first 2016 issue of Consumer Compliance Outlook, featuring these and other articles:

• Interagency Flood Insurance Regulation Update Webinar: Questions and Answers
• Credit and Debit Card Issuers’ Obligations When Consumers Dispute Transactions with Merchants
• Proposed Changes to the Uniform Interagency Consumer Compliance Rating System

The Consumer Financial Protection Bureau has scheduled a one-hour webinar at 2 p.m. ET on Wednesday, June 22, providing an overview of the recent updates to its eRegulations tool. Preregistration is required.by 5 p.m. ET on June 21.

The CFPB has announced new resources for consumers regarding shopping and negotiating an auto loan. “Take Control of your Auto Loan” is a roadmap to help consumers navigate the process and understand the total cost of a car loan. The Auto Loan Worksheet helps keep track of offers, see the total cost of a car purchase, and negotiate the best deal.

The First Quarter 2016 mortgage debt outstanding report has been released by the Board of Governors of the Federal Reserve System.

The Office of the Comptroller of the Currency has announced the publication of the June 2016 edition of its Community Developments Investments electronic newsletter entitled "Financing Health Centers: Supporting Community Wellness." Articles look at how banks are financing the construction, renovation, and expansion of federally funded health centers. Bankers and public health professionals discuss the public sector financial resources they have leveraged in the financing of these facilities.

The Federal Reserve Board has issued SR 16-11 with supervisory guidance for assessing risk management at supervised institutions with total consolidated assets of less than $50 billion. The guidance reaffirms the Federal Reserve's long-standing supervisory approach that emphasizes the importance of prudent risk management.

The Department of Housing and Urban Development has announced an agreement with First-Citizens Bank & Trust Company, resolving allegations that the bank's predecessor, First Citizens Bank and Trust Co., denied mortgage loans to African American, Latino and Asian American mortgage applicants at a disproportionately higher rate than white applicants. In January 2015, the South Carolina-based bank was merged into First-Citizens Bank & Trust Company, a North Carolina-chartered commercial lender. As the successor, First-Citizens Bank & Trust Company continued to cooperate with HUD throughout the investigation and ultimate resolution. First-Citizens agreed to take several steps to ensure and protect equal access to credit including refraining from unlawful consideration of race or national origin when selecting sites for branch offices and services offered, conducting marketing, and defining Community Reinvestment Act assessment areas.

The FDIC has released its first quarter 2016 state profiles. The profiles are a quarterly data sheet summation of banking and economic conditions in each state.