Regulation

The sale has revived a long-running feud between former chairmen Mark McWatters and Rodney Hood, who tweeted, "Credit unions deserve better stewardship of agency resources.”

The Boston-based bank said the Office of the Comptroller of the Currency gave it the highest grade possible on its most recent Community Reinvestment Act examination. Santander had received a “needs to improve” grade in 2017 and a “satisfactory” rating in 2018.

Todd Harper, chairman of the National Credit Union Administration, said new assessments are likely needed because of an influx of deposits, but industry groups and other board members say the agency should wait to see if the reserve ratio recovers on its own.

Federal Reserve Gov. Lael Brainard said "scenario analysis" is distinct from traditional regulatory tools to assess capital strength, but can measure the long-term impact of weather events and the transition to a greener economy.

The nod from the Federal Reserve is seen as a significant step toward eventually freeing the bank from a 2018 order that imposed a cap on its assets.

In a book that was decades in the making, retired law professor Art Wilmarth tells the story of the Glass-Steagall Act — its origins, demise and aftermath. He also makes a case for restoring the separation between banks and securities firms, arguing that erecting such a barrier would reduce systemic risk and weaken the big banks’ political power.

As the bureau writes data-sharing rules, the third-party firms that work with fintechs say oversight by the agency would be more efficient — and better for consumers — than being policed by their bank partners.

Nineteen of the nation's largest banks must show how they'd withstand pressures in the commercial real estate and corporate debt markets that would accompany a severe global recession.

President Biden’s executive order requiring agencies to weigh the impact of pending policies on underserved groups could have a lasting effect on issues from reforming the Community Reinvestment Act to fair lending.

A plan to make expansion easier for credit unions is getting pushback not just from bankers, but also from the regulator's current chairman and a former board member.