OCC

The head of the agency developing the special-purpose federal license said the process is moving forward “independent” of legal challenges mounted by state regulators.

The federal agencies said in a recent statement that “guidance does not have the force and effect of law,” but two trade groups say that standard should be more binding.

John Dugan in January will succeed Mike O’Neill, who recently turned 72 and under Citigroup rules may not seek re-election to the board.

One of the biggest sticking points as regulators try to reform the Community Reinvestment Act is expanding the assessment footprint but ensuring banks continue to serve their direct communities.

In a highly anticipated proposal, the central bank outlined a new approach for its post-crisis supervisory program that divides banks into different tiers based on size.

The new approach would replace the "current exposure methodology" that banks typically use to calculate what they owe or are owed in swaps, futures or options contracts.

While there are ways to improve the Community Reinvestment Act for the modern era, steps must be taken to ensure the law is not weakened in the process.

Under the Obama administration, the OCC quietly prevented JPMorgan Chase from opening branches in new states as punishment for violating banking rules, according to sources.

The money manager plans a big expansion in Atlanta; agency makes now rare determination that debt-collection practices were “abusive.”

The assessment is designed to get banks on the same page in combating cybersecurity and make it easier for institutions and regulators to assess their performance.

Hope Hardison, the chief administrative officer, and David Julian, the chief auditor, were placed on leave Wednesday after they received the letters, which indicated the comptroller's office plans to pursue sanctions againts them, a source says.

State regulators have once again sued the OCC, arguing it lacks legal authority to offer a federal fintech banking charter.

“We have actually discouraged banks from innovating,” FDIC Chairman Jelena McWilliams said in announcing a move that other agencies have made.

The civil money penalty from the Office of the Comptroller of the Currency follows a 2015 consent order against the bank, which became a subject of federal questioning after it suspended its business with check cashers.

Federal and state regulators are at odds over the Office of the Comptroller of the Currency’s new licensing program, but there are ways to improve current law to appease both sides.

Bankers say the agencies’ proposed rewrite of the trading ban would do more harm than good, while the Volcker Rule’s most ardent supporters worry the overhaul will enable risky behavior by the largest institutions.

Federal and state regulators are at odds over the Office of the Comptroller of the Currency’s new licensing program, but there are ways to improve current law to appease both sides.

Federal regulators have issued answers to frequently asked questions on appraisal regulations.

The Federal Reserve System is trying to be proactive in these and other high-profile areas, offering educational materials and coaching to bank execs and directors, according to supervision officials at the St. Louis and Richmond Fed banks.

Fintechs can get what they need from a traditional bank charter with the FDIC, as long as the agency is willing to play ball and step up its approach to innovation.