Another regulator has already gone out on its own with an advance notice of proposed rulemaking. But, Powell said, "It’s a process and we’re very much interested in pushing forward.”

The House of Representatives passed two bills that would tie appraisal waivers for Small Business Administration loans to bank rules for commercial real estate loans, despite objections from the Appraisal Institute about its members being cut out of transactions.

European banks are testing rings, watches and bracelets that are linked to credit and debit accounts; European regulators appear keener on increasing competition than U.S. counterparts.

The central bank said the proposal is intended to eliminate duplication of rules for entities covered by the Secure and Fair Enforcement for Mortgage Licensing Act of 2008.

Five agencies issued a final rule that established swamp margin requirements with restrictions on certain qualified financial contracts.

Whereas most regulators appointed in the Trump administration are focused on rolling back the post-crisis framework, Nellie Liang helped create it.

Liang is currently a senior fellow at the Brookings Institution in Washington and previously led a Fed board division in charge of financial stability policy and research.

The changes mandated by the recent regulatory relief law would narrow the definition of "high-volatility commercial real estate" exposures that get a higher risk weight.

The Office of the Comptroller of the Currency has been taking the lead on a federal license for fintech firms, but the central bank will decide if such companies can access the payments system and other benefits.

Olson ran a bank founded by his father in his hometown of Fergus Falls, Minn., before a long career in Washington.

Mary Daly succeeds John Williams, who left the bank earlier this year to run the Federal Reserve Bank of New York.

The surge in populist politics that helped fuel President Donald Trump's victory and the rise of progressives on the left wasn't triggered by U.S. policymakers' response to the 2008 financial crisis, said former Federal Reserve Chairman Ben Bernanke.

The interagency council voted in favor of the bank's application to remove its designation, though the practical effect of the decision is muted by the regulatory relief law passed this spring.

The Senate Banking Committee said it is postponing a hearing on the implementation of regulatory relief for "logistical reasons."

Regulators will continue to issue guidance to articulate general views on appropriate practices, but they will not issue enforcement actions based on violations.

The central bank, which received broad authority after the crisis to supervise big banks, is expected to get more attention from lawmakers over its discretion to ease banks’ burden.

The former head of the agency said the proposed changes to the enhanced supplementary leverage ratio will make banks vulnerable to disruption and failure.

In a report, the watchdog said the economic environment and competition instead have driven trends in small-business lending.

The OCC required the company to raise more capital and complete a CRA plan. Varo Bank still needs FDIC and Fed approval before opening.

The agencies had proposed revisions designed to make compliance less complex, but banks have expressed concern that the plan could have the opposite effect.