OCC

Examiners could have done more to minimize the brunt to the Deposit Insurance Fund from Washington Federal Bank for Savings, which hid fraudulent loans and will cost the fund more than $80 million, according to a report from the Treasury’s inspector general.

Payday lenders argue that banks cut ties with their industry due to pressure from biased and hostile regulators. But the reality, in some cases, may be more nuanced.

The head of the Consumer Bankers Association lays out four industry priorities for the regulatory push to overhaul the Community Reinvestment Act.

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.