OCC

The Federal Reserve, Federal Deposit Insurance Corp., Office of the Comptroller of the Currency and National Credit Union Administration have finalized guidance on handling troubled debt.

Acting Comptroller of the Currency Michael Hsu said customers' trust in banking relationships is critical to the financial system as the agency seeks comment on what a survey of trust and banking should look like.

The interagency report recommends practices for financial institutions to manage relationships with fintechs and other third parties.

Bankers and a key government supervisor say the downfalls of multiple regional lenders reminded regulators that traditional M&A is better for the industry than failed-bank-deals.

The agencies warned banks to fix fee programs before they result in penalties.

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.