Opinions

Banks still have advantages in the battle against big tech firms like Amazon and Facebook, but they will need to capitalize on those to survive.

The OCC said Thursday that the bank has yet to fully meet the conditions of a 2012 consent order requiring it to address problems in its Bank Secrecy Act and anti-money-laundering compliance programs.

In adding Martin Pfinsgraff, until recently the OCC's deputy comptroller for large-bank supervision, and retired Air Force Brig. Gen. Linda Medler, a cybersecurity expert, the regional bank says it is trying to build a board with expertise in fields of timely interest.

Sen. Sherrod Brown called on the Trump administration to support the Consumer Financial Protection Bureau's enforcement action against PHH Corp., which agreed to a $45 million settlement this week related to foreclosure abuses.

The company sold securities in the fourth quarter to stay below $10 billion in assets and avoid a cap on interchange fees.

The banking industry braced for big changes with the election of President Trump, but the financial reform law has proven its staying power over the past year.

The railroad industry executive will replace Raymond Fortin as general counsel.

The Senate Banking Committee's first hearing of 2018 will focus on anti-money-laundering efforts and counter terrorist financing, which could be a precursor to legislative reforms.

More than 100 pending Trump administration nominees, including Fed Chair-designate Jerome Powell, must update their financial disclosures and have the White House resubmit their names for consideration by the Senate.

The tax law is expected to eliminate 300,000 affordable housing units over 10 years in part because it will reduce the value of banks’ low-income tax credits, which finance half of all affordable housing units.