OCC

In an op-ed, acting Comptroller of the Currency Keith Noreika argued that allowing consumers to sue financial institutions in class actions would raise credit costs and harm small banks.

Amy Friend, who helped implement the Dodd-Frank Act while at the OCC, will retire from government service on Nov. 11, the OCC said Wednesday.

The world of short-term lending was shaken up Thursday as one regulator issued a rule cracking down on payday loans while another made it easier for banks to offer an alternative product.

Acting Comptroller of the Currency Keith Noreika on Thursday called for steps to ease the asset thresholds that determine whether banks are subject to certain provisions of the Dodd-Frank Act.

Industry observers are skeptical of acting Comptroller Keith Noreika's claims that his agency could grant a fintech charter to a commercial firm like Amazon or Google, arguing that such a move could become "Walmart 2.0."

Leslie Ireland, a former assistant secretary for intelligence and analysis at the Treasury Department, was also elected to the bank's board.

Meetings between bank regulators and technology giants like Amazon and PayPal underscore Silicon Valley's growing involvement in the financial services arena, and may presage pursuit of a bank charter.

Washington Federal is the latest bank to pull an application after being flagged for insufficient Bank Secrecy Act compliance.

Acting Comptroller of the Currency Keith Noreika affirmed Thursday that the agency’s fintech charter, if implemented, could be granted to commercial firms like Walmart or Google.

The proposal is aimed at a simpler capital regime particularly for community banks, but some industry representatives and regulators themselves questioned whether the plan went far enough.