OCC

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.