Lalita Clozel

The debate over the separation of banking and commerce has come roaring back, but instead of Walmart in a spotlight role, many banks have centered on a player they see as the new villain: fintech.

The Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. have signed off on an abbreviation of the settlement cycle for securities to two days from three days.

As Republicans policymakers pursue efforts to revamp the Consumer Financial Protection Bureau and replace its leadership, state agencies are already preparing to fill any vacuum that might ensue if the CFPB steps back.

Acting Comptroller of the Currency Keith Noreika is questioning the sincerity of recent steps by the FDIC to encourage de novo applications.

Acting Comptroller of the Currency Keith Noreika is using his short time in office to open a debate about the separation of banking and commerce, which he says is anti-competitive, stifles diversification and may limit regulators' options in times of crisis.

The Office of the Comptroller of the Currency is seeking to scrap a challenge to its fintech charter by New York’s bank regulator.

The banking industry had mostly good news in the FDIC's Quarterly Banking Profile, with higher profits helped by interest income. But there were worrying signs too, including a big jump in credit card chargeoffs.

Higher net interest income and modest growth in expenses helped boost bank earnings by 10.7%, the FDIC said in its Quarterly Banking Profile.

The Trump administration says it has put a stop to Operation Choke Point, a controversial initiative aimed at discouraging financial institutions from servicing high-risk businesses.

A handful of state regulators are discussing ways to create a single regulatory structure for fintech companies that are seeking regional or national business.