Brendan Pedersen

The agency says it is not cutting its workforce but that the new strategy is necessary because it has an unusually high number of workers near retirement age.

Comptroller of the Currency Joseph Otting suggested the central bank was adopting a “partisan” stance against his plan to overhaul the Community Reinvestment Act.

The FDIC’s Quarterly Banking Profile said lackluster net interest income, likely resulting from lower short-term interest rates, drove a decline in fourth-quarter and full-year earnings.

Recent proposals considered or passed by legislatures around the country grant banks certain exemptions, but they differ from state to state and may pose new compliance headaches.

The hearing will be one of three held by the House Financial Services Committee to scrutinize the bank next month.

The agency said it wants feedback on changing its ubiquitous logo greeting customers at branches and ATMs to address technological changes, shifting consumer behaviors and bank-nonbank partnerships.

In a sudden reversal, the OCC and FDIC said they would push back the deadline to April for groups to weigh in on the proposal to modernize the Community Reinvestment Act.

Compared with incendiary fights elsewhere in the capital, deliberations among the banking agencies tend to be more banal. But on issues from the Volcker Rule to CRA reform, disagreements lately between officials have grown sharper.

Ericson State Bank, which had been in regulators’ sights for a decade, was closed by state and federal authorities Friday. Another bank acquired all of its deposits and a fraction of its assets.

The inspector general also said high turnover at the chief information officer position has limited the agency's ability to modernize its technology.

The administration proposed to end the housing trust funds now financed by Fannie Mae and Freddie Mac, and to subject numerous agencies to the congressional appropriations process, among other things.

The agency released two new manual supplements and other materials to help nonbanks and its own staff better understand application procedures.

The agency agreed to most recommendations made by its inspector general but pushed back on some conclusions.

In letters to Freddie Mac and Fannie Mae, six Democrats asked how the mortgage giants are factoring extreme weather into their risk modeling.

In letters to Freddie Mac and Fannie Mae, six Democrats asked how the mortgage giants are factoring extreme weather into their risk modeling.

Nonbanks hold a disproportionate percentage of the worst-rated loans, but banks hold a majority of the market, and risk management safeguards are largely untested, according to an interagency report on shared national credit.

The Massachusetts senator took aim at certain views expressed by Judy Shelton, a Trump administration pick to sit on the Federal Reserve Board, that have sparked controversy.

Most stakeholders agree that the Community Reinvestment Act needs to be updated, but a congressional hearing featuring the regulator leading the overhaul effort showed just how contentious the process has become.

To guard against headwinds in the agricultural sector, the Federal Deposit Insurance Corp. recommended that institutions consider the “overall financial status” of farm loan borrowers.

Comptroller of the Currency Joseph Otting upset some House Democrats when he was a no-show at a previous oversight hearing. They will now get a chance to question him about the future of the Community Reinvestment Act.