Claire Williams

The crypto firm Voyager got in hot water for implying its deposits were federally insured. Policymakers and experts say it isn’t the only one.

Jonathan Fink will be associate chief counsel, while Patricia Grady will serve as deputy chief counsel. Fink has been a leading public face on climate risk at the agency in recent months.

The comments from the agency's under secretary for domestic finance came as it issued a request for feedback on the risks and opportunities of digital assets.

Nikhil Rathi, CEO of Britain's Financial Conduct Authority, said the recent cryptocurrency market crash has underscored the need for regulation on both sides of the Atlantic.

The fintech IntraFi announced that Diane Ellis, formerly director of the division of insurance and research at the FDIC, will help lead the firm’s “new initiatives under development.” 

Bank regulators are pushing large regional banks to have more definitive resolvability plans as part of their merger review, but some observers say those requirements are effectively new capital requirements by other means.

Michael Hsu has been acting comptroller for about 14 months. Since President Biden’s choice to lead the agency withdrew from consideration late last year, the White House has not floated any new names for his potential successor.

An accounting bulletin from the markets regulator is making it harder for bank regulators to give banks clarity in how they can provide crypto custody services. 

Paulson, who announced his retirement as a senior deputy comptroller, is one of three top staffers at the Office of the Comptroller of the Currency who are departing or taking extended leave.

In its semiannual risk report, the Office of the Comptroller of the Currency said it was working to provide clarity on the legality and soundness related to digital assets.

The Government Accountability Office said that examiner guidance at the Office of the Comptroller of the Currency didn’t take into account new statistical methods to uncover potential redlining.

The Federal Deposit Insurance Corp. plans to increase assessment rates by 2 basis points for all insured depository institutions. Banks are expected to object to the hike as too much too soon.

The Federal Deposit Insurance Corp. eliminated underbanked households from its regular survey of the banking system during the Trump era, but the agency is now reversing that decision.

The Bank Policy Institute and the Financial Services Forum argue that the agency’s proposal could conflict with bank regulators’ efforts to address climate change. They are also criticizing the SEC’s proposed treatment of so-called Scope 3 emissions.

Democratic Sen. Elizabeth Warren cited a report that found then-acting Comptroller Keith Noreika chose to privately reprimand the Canadian bank for consumer abuses, rather than issuing a fine.

Brian Brooks, an acting head of the Office of the Comptroller of the Currency during the Trump administration, says the CEO of one of the largest U.S. banks considered barring customers from using its cards to buy firearms.

Bank mergers, climate change and fintech rules are instrumental changes that the Center for American Progress is calling for Biden regulators to champion.

Jelena McWilliams is joining the firm following her high-profile exit from the Federal Deposit Insurance Corp.

Acting Comptroller of the Currency Michael Hsu lauded the agencies' unified Community Reinvestment Act proposal's focus on climate policies, while Federal Reserve Vice Chair Lael Brainard trumpeted the data-driven aspects of the proposal.

On the issue of large regional mergers, former FDIC heads Sheila Bair and Thomas Hoenig said that presuming banks with more than $100 billion of assets are systemically important is “regulatory overreach.”