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Financial Services Law Insights and Observations

OCC Releases Bank Accounting Advisory Series Update

OCC Bank Compliance

Consumer Finance

On July 25, the OCC released an update to its Bank Accounting Advisory Series, which provides accounting guidance for financial institutions. The updates are intended to address industry questions related to acquired loans, other real estate owned, troubled debt restructurings, nonaccrual, allowance for loan and lease losses, insurance claims, and debt discharged in bankruptcy.

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