OCC

The new administration is wasting no time assembling a team of regulatory appointees and urging agencies to pause pending rules.

Michael Barr helped write the 2010 Dodd-Frank Act while serving under Treasury Secretary Timothy Geithner.

The administration faces a slew of immediate financial policy tasks, such as passing a new round of small-business aid, charting a course for Fannie Mae and Freddie Mac and filling vacant agency leadership posts.

The OCC had hit James Strother and other executives with civil charges a year ago in connection with the bank's phony-accounts scandal. His monetary penalty is lower than what the agency had first floated.

Issued in the final days of the Trump administration, the regulation has united banks, gun-control advocates and environmentalists in opposition. It could be blocked by Congress or a comptroller chosen by the new president.

The Office of the Comptroller of the Currency finalized a rulemaking Thursday morning opposed by the industry that forces the largest banks to provide services to gun businesses and other sectors to which banks have curtailed lending.

Brian Brooks may be remembered as one of the most controversial interim regulatory chiefs in recent memory, taking positions on the pandemic response, fintechs’ banking ambitions and other issues that won him supporters and critics alike.

A co-founder of Anchorage Trust Co. said its digital bank, which will not take insured deposits, will enable the company to strengthen partnerships with financial institutions that offer custody services for clients’ cryptocurrency assets.

Several financial tech companies that applied to become national banks are seeking exemptions from many provisions of the Community Reinvestment Act. A consumer advocacy group and the American Bankers Association say the OCC mustn't allow this.

Brian Brooks is planning to leave the Office of the Comptroller of the Currency within days, according to a published report and a source familiar with the situation.