OCC

The San Francisco bank is under pressure from investors to get out from under a Fed-imposed asset cap and to hire a new permanent CEO. But executives said Friday that thoroughness is more important than speed.

Senior officials at the OCC, FDIC and Fed signaled they agree more than they disagree on a plan to modernize the Community Reinvestment Act.

The heads of three agencies reiterated their concern about the bank’s progress in fixing risk management and corporate governance flaws.

The Treasury secretary told the House Financial Services Committee that he has been in coordination with the U.S. bank regulators to soften the impact of the United Kingdom potentially failing to strike a deal on its exit from the European Union.

Community banks are open to working with innovative financial startups, but regulators must ensure they face the same oversight standards as traditional banks.

In successive speeches, Joseph Otting and Jelena McWilliams expressed hope for a Community Reinvestment Act rule by early next year, and also said regulators should align their small-dollar lending policies.

Community banks are open to working with innovative financial startups, but regulators must ensure they face the same oversight standards as traditional banks.

Under the plan, large banks would have to hold additional capital if they purchase another bank's "loss-absorbing" debt that is used to contain fallout from a collapse.

The Office of the Comptroller of the Currency has promoted Maryann Kennedy to oversee about 800 OCC examiners who supervise the largest banks.

The bank's decision to select its general counsel as successor to Tim Sloan, albeit on a temporary basis, focused attention on its frayed relationships with the Federal Reserve and the OCC.