Examiners are skilled at spotting trouble but often do too little to correct it, as the latest revelations about Citi once again show. Prompt supervisory intervention is essential to protecting the integrity of the financial system.
Acting Comptroller of the Currency Brian Brooks’ focus on allowing fintech firms into the federal banking sphere appears to have a more ambitious and risky goal: redefining the agency’s regulatory focus.
The Financial Stability Oversight Council’s plan to study the market explains very little about which activities or firms, like Fannie Mae and Freddie Mac, will be designated as systemically important. Here's some clearer guidance.