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Corporate culture is difficult to define and document. But bankers have a responsibility to set high ethical standards in the way they pay and promote their employees, according panelists at a New York Fed conference Thursday.

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A federal appeals court's decision that declared the Consumer Financial Protection Bureau an arm of the White House relies on a novel interpretation of the constitution's separation of powers clause that could have broader effects on how other regulators like the OCC and FHFA interact.
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Banks are reacting positively to a sweeping new cybersecurity proposal from regulators, noting that it only targets the largest institutions and keys off of existing practices.

Such a charter comes with a bevy of legal and policy questions to resolve, including whether parent companies of firms that obtain a fintech charter would have to subject themselves to oversight by the Federal Reserve Board. State regulators, meanwhile, fear a new charter could erode their ability to regulate firms within their jurisdictions.

In a sit-down interview, Amy Friend, the OCC's chief counsel, details how the agency would evaluate firms for a possible fintech charter, whether the charter would favor particular kinds of companies and what happens next in the process.

A federal appeals court ruling against the Consumer Financial Protection Bureau has raised questions about whether banks and other firms cited by the agency can protest previous enforcement actions. But doing so may create new risks for firms.
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As Fannie Mae and Freddie Mac continue to experiment with up-front risk sharing deals, some small mortgage lenders are worried they will be left out of the action.

The new CEO has vowed to clean up the sales practices that tarnished the bank's reputation and cost John Stumpf his job. But skeptics from Wall Street to Capitol Hill say Sloan, too, was "culpable" in the phony account-opening scandal and that only an outsider can fix what ails the nation's third-largest bank.
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The change at the top of the No. 3 U.S. bank by assets after a snowballing phony-accounts scandal marks the rare case of a major U.S. bank CEO resigning amid accusations of company misconduct. His successor, Tim Sloan, faces a hard road to recovery.
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The regulations added in the wake of the financial crisis have made the system safer, but it's time to pause on new rules and find ways to improve what's been put in place already, according to the top executives at some of the largest banks.

A top Wells Fargo executive and a former employee painted very different pictures of the culture and oversight at the San Francisco bank during a hearing by a California Assembly committee on Tuesday that probed the opening of two million phony accounts.
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