OCC

We should consolidate federal oversight of the banking industry within the Office of the Comptroller of the Currency. It would rationalize a system that has grown increasingly unwieldy over generations.

The order stemmed from a cybersecurity breach in 2022. The Office of the Comptroller of the Currency also lifted the bank's "troubled condition" status.

Acting Comptroller of the Currency Michael Hsu said that while artificial intelligence is a potentially transformative technology, regulators should be wary of waiving liability for its use in banking.

Huge portfolios of outstanding private credit, issued by lenders completely free of banklike supervision and safety and soundness requirements, are almost certainly of lower quality than banks' loan portfolios. If they implode, the damage could be extensive.

While trade groups representing Oklahoma banks argue the failure of Oklahoma-based First National Bank of Lindsay is an isolated incident, some in the industry say it may be a sign of more collapses to come.

Two former comptrollers of the currency argue that state-level efforts to regulate nationally chartered banks fly in the face of both the law and good sense, threatening to take the country back to the era of "wildcat" banking.

The regulator cited Axiom Bank for unsafe and unsound practices as well as violating the Bank Secrecy Act and anti-money laundering requirements.

Europe's top finance ministers are questioning the U.S.'s commitment to the global capital standards. The mistrust could have consequences for international regulatory efforts.

The OCC has filed a legal brief backing the banking industry's challenge to Illinois' Interchange Fee Prohibition Act, arguing the law would interfere with national banks' federal authority, fragment the national payment system and force banks to halt credit card usage in the state.

While other Washington regulators revise their approaches to merger reviews, the Federal Reserve has made no official change to its framework. The $35 billion merger could demonstrate just how differently the central bank is approaching the issue — if at all.