OCC

Democrats on the Banking Committee, led by Sen. Jack Reed of Rhode Island, say the peer-to-peer payments network's customer reimbursement and anti-money-laundering policies need more thorough scrutiny.

The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency have issued statements on crypto risks this year. Industry participants warn about a chilling effect.

The idea that banks might be unmanageably large ignores the fact that the U.S. is full of well-managed firms that are far bigger than even the largest banks.

It is rare for banks, especially large ones, to receive unsatisfactory ratings in their Community Reinvestment Act examinations. The San Antonio bank has now done it twice in a row.

The revised policy increased maximum penalties for the largest banks, outlined stronger accountability measures and expanded the OCC's authority to restrict business activities.

The Delaware bank, which is also seeking to move its headquarters to South Dakota, says a national charter will allow it to more easily expand across the country as it builds on its banking-as-a-service business model.

The appointment creates a "full-fledged office" within the Office of the Comptroller of the Currency devoted to national banks' climate-change exposures, acting Comptroller Michael Hsu says.

The regulators issued a joint statement Friday morning reaffirming their commitment to the international regulatory framework, but it remains to be seen if they will do so by the Basel Committee's January deadline.

A Government Accountability Office report found that regulators scaled back supervisory examinations during the pandemic in part because of banks' technological shortcomings.

The operational melding of highly regulated banks and less-regulated fintechs led acting Comptroller of the Currency Michael Hsu to warn of the potential for another financial crisis.

Fintech and cryptocurrency firms competing with banks but subject to fewer regulations are "getting away with murder," said Eugene Ludwig, a former comptroller under the Bill Clinton administration. 

The Bank Policy Institute and the American Bankers Association asked acting Comptroller of the Currency Michael Hsu to deny Sen. Elizabeth Warren's request to rescind Trump-era cryptocurrency guidance. 

Trade groups submitted a wide range of complaints to regulators throughout the Community Reinvestment Act's comment period, including concerns about the revamp's timeline and how the proposal would evaluate online banking activity.

Paulson, who announced his retirement as a senior deputy comptroller, is one of three top staffers at the Office of the Comptroller of the Currency who are departing or taking extended leave.

The Government Accountability Office said that examiner guidance at the Office of the Comptroller of the Currency didn’t take into account new statistical methods to uncover potential redlining.

Bank mergers, climate change and fintech rules are instrumental changes that the Center for American Progress is calling for Biden regulators to champion.

Acting Comptroller of the Currency Michael Hsu lauded the agencies' unified Community Reinvestment Act proposal's focus on climate policies, while Federal Reserve Vice Chair Lael Brainard trumpeted the data-driven aspects of the proposal.

Anchorage Digital Bank has an inadequate AML compliance program and will have to create a committee within 15 days to develop a remediation plan and submit progress reports, according to the Office of the Comptroller of the Currency.

The Office of the Comptroller of the Currency recently decided to put an official in charge of the rising number of small and midsize national banks that partner with fintechs or have nontraditional business plans. The agency’s goal is to establish a team that understands cutting-edge technologies and establishes consistent oversight policies in response.

The acting comptroller pushed back against a key feature of Sen. Pat Toomey’s stablecoin proposal, and the idea that stablecoins could be regulated as money market funds