Joseph Otting

Just two months ago, Comptroller Joseph Otting seemed to signal that the OCC might be open to letting national banks rent their charters to payday lenders. Now he is clarifying that it won’t happen.

An OCC initiative to get more banks to make short-term loans that rival those of payday lenders isn't enough of an enticement.

More than a dozen lawmakers wrote to the banking agencies Friday, arguing that any regulatory reforms to the Community Reinvestment Act should focus on expanding access to credit.

The remarks by the comptroller of the currency came as his agency released a new report on emerging risks in the banking industry.

The agency's bulletin opens the door to banks' making more short-term loans to borrowers with lower credit scores — with few parameters beyond "sound underwriting."

The proposed change would give banks more leeway in making trades and put more onus on regulators to challenge their judgments, sources said.

Trump-appointed regulators are making headway on easing regulations. But there's one critical voice missing.

Bankers have long complained that anti-money-laundering regulations impose an extra burden without really stopping major crime. D.C. is finally listening.

Bankers have long complained that anti-money-laundering regulations impose an extra burden without really stopping major crime. D.C. is finally listening.

Judge Dabney Friedrich ruled that the case could not proceed because the OCC has not actually granted the fintech charter to any firm.

Japan's biggest bank has been accused by New York officials of dodging tough oversight by swapping its state license for a federal one, putting itself under a U.S. agency on the front lines of President Donald Trump's push to ease financial rules.

The Office of the Comptroller of the Currency has been leading the charge on revamping the Community Reinvestment Act, but a big unknown is whether the other two regulators charged with carrying out the law are committed to moving ahead as swiftly on a reform plan.

Comptroller of the Currency Joseph Otting took office only late last year, but he is wasting little time in tackling a series of hot-button topics, including easing anti-money laundering regulations and lowering national bank fees.

Regulators should revise existing rules to encourage banks to offer short-term loans to customers who run into financial emergencies.

The comptroller said he is looking to capitalize on the industry's strong profits and high capital reserves to reduce costs and lower exam fees next year.

Bank regulators have not even proposed a plan yet for revamping the Community Reinvestment Act, but stakeholders likely to weigh in on the plan are already establishing battle lines.

Comptroller of the Currency Joseph Otting laid out an ambitious regulatory reform agenda Monday, telling a group of community bankers that he is committed to CRA upgrades, new flexibility in BSA compliance and other measures.

The agency's decision to lift a 2002 consent order against Ace Cash Express could lead to a revival of partnerships between national banks and payday lenders.

Regulators are working intently on a proposal to reform how they apply the Community Reinvestment Act after previous attempts to modernize CRA policy drew mixed reviews.

Comptroller of the Currency Joseph Otting will bow out of certain regulatory matters involving CIT and U.S. Bank, where he held leadership roles, and three others.