Lalita Clozel

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.

The National Credit Union Administration has laid out a detailed and comprehensive reform plan, with proposals ranging from minor procedural changes to more ambitious goals, like a firmer assertion of federal preemption over state laws.

In the midst of a public feud between federal regulators on the right process for chartering new banks, Federal Financial Analytics argues that regulators should instead focus on loosening capital standards for new industry entrants.

The Federal Deposit Insurance Corp. will release its industry earnings report for the second quarter on Aug. 22.

The Dodd-Frank Act’s Volcker Rule was meant to protect the financial system, but it is also stopping community banks from investing in funds focusing on fintech.

While acting Comptroller of the Currency Keith Noreika's criticism that the FDIC is hampering the creation of new banks may have had merit in the past, the agency has fixed many problems.