OCC

An internal agency report paints a scathing portrait of the OCC, acknowledging that it missed several red flags on the Wells Fargo matter.

President Trump has been in office for nearly 12 weeks, but he still hasn’t nominated several critical positions among financial services regulators. Following is a guide to what’s vacant now, and when other posts will be available.

President Trump has been in office for nearly 12 weeks, but he still hasn’t nominated several critical positions among financial services regulators. Following is a guide to what’s vacant now, and when other posts will be available.

The Office of the Comptroller of the Currency's top examiner at Wells Fargo was removed last month, according to Reuters.

Comptroller of the Currency Thomas Curry on Wednesday expressed support for community development financial institutions, even as the Trump administration is seeking to cut all government funding for them.

The Office of the Comptroller of the Currency’s proposal to require fintech charter applicants to draft and comply with a financial inclusion plan appears to have more teeth than similar Community Reinvestment Act requirements for banks.

Low scores make it harder for banks to get regulatory OKs to expand, but Wells is in retrenchment mode anyway.

Wells Fargo engaged in an "extensive and pervasive pattern" of discriminatory and illegal lending practices for years, the OCC said in slashing a key rating of how the bank serves communities.

The settlement, which requires judicial approval, will cover customers' fees and other costs related to about 2 million unauthorized accounts.

With a "needs to improve" rating, Wells Fargo is now subject to a wide range of regulatory restrictions on things like branch openings and M&A.