OCC

Colin Walsh, Varo’s chief executive, says the disruptor has hired several former regulatory officials to help in what has admittedly been “a difficult process.”

The proposed program would allow companies to test innovative products that “present significant opportunities or benefits” for consumers, businesses and other financial institutions.

Bradley Linskens, the former examiner-in-charge at Wells Fargo, faced scrutiny for his conduct as the top examiner of the scandal-plagued bank.

The fintech company, which was forced to rebrand its cash management product last year after misleading marketing caused a backlash, is seeking a national bank charter.

The Massachusetts Democrat said the agency could have used existing statutory authority to object to the bank’s appointment of now-departed CEO Tim Sloan.

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.