Brendan Pedersen covered Capitol Hill and regulatory politics for American Banker until September 2022. From 2019-2021, he covered the Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency as well as fintech policy. Originally from Chicagoland, he was previously a staff writer for Kiplinger's Personal Finance and covered local business affairs in Denver, Colorado for BusinessDen.
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The revamp of the brokered deposits framework offers relief to banks and their partners that saw the prior rule as outdated. Meanwhile, new standards for industrial loan company parents aim to clarify the bank chartering process for fintechs and other nontraditional firms.
December 15 -
The agency's principals are scheduled to meet Dec. 15 to vote on a new definition for brokered deposits and on regulatory standards for industrial bank parents.
December 11 -
BitPay and Paxos are only the latest digital currency companies to pursue a national charter from the Office of the Comptroller of the Currency.
December 10 -
A defense spending package includes a measure requiring new businesses to report their beneficial owners directly to the Financial Crimes Enforcement Network, shifting the burden away from banks.
December 9 -
It includes simpler Paycheck Protection Program forgiveness and a consistent approach from federal regulators to reforming the Community Reinvestment Act, says Bank of America's Christine Channels, who chairs the Consumer Bankers Association's board.
December 7 -
The initiative is the latest offshoot of Project REACh, which was developed by the OCC over the summer to bring together bankers, community leaders and civil rights organizers in an attempt to expand access to credit.
December 3 -
The Bank Policy Institute submitted a Freedom of Information Act request to the Office of the Comptroller of the Currency requesting the agency's analysis used in crafting the plan.
December 1 -
The Federal Deposit Insurance Corp.’s latest report on the industry’s health had positive news about the earnings recovery last quarter, but it also showed that low interest rates amid continuing economic uncertainty are putting downward pressure on asset yields.
December 1 -
The reduction marks the third time in three years the agency has cut annual fees for national banks.
December 1 -
LIBORThe OCC, Federal Reserve and FDIC said that a failure to adequately prepare for the transition away from Libor could undermine banks' safety and soundness, but also extended the sunset date for many iterations of the interest rate benchmark to July 2023.
November 30
