Acting Comptroller of the Currency Michael Hsu offered more details about forthcoming interagency rules to establish operational risk standards for large banks, including a focus on "critical operations" and third-party service providers.

While some said the agency was ignorant of its own rules, one trade group praised the goals of the posting.

Sen. Bill Hagerty, R-Tenn., and Sen. Elizabeth Warren, D-Mass., sent separate letters to banking regulators on the anniversary of the failure of Silicon Valley Bank, with Hagerty questioning the Federal Deposit Insurance Corp.'s sale of Signature Bank's assets and Warren urging the regulators to tighten capital and liquidity requirements.

The head of the U.S. Department of Housing and Urban Development under the Biden Administration said she will transition from public life starting March 22.

"Don't fight the Fed" is the mantra of investors. But, when the Fed does not allow banks to meet the needs of their communities and shareholders through unfair regulations, like the politically motivated CRA final rule, bankers have no choice but to go to court to seek regulatory justice.

Regulatory reform – rather than Biden's proposed solutions – is needed to fix the inventory crisis, some say, but others applauded the president's buyer cost-cutting initiatives.

Bipartisan legislation is ready for consideration in the Senate, but even if that fails, regulators have the tools they need to rein in excessive risk taking.

In his State of the Union address, President Joe Biden touted the Consumer Financial Protection Bureau's credit card late fee rule, which has sparked litigation from banking groups, and a raft of housing policy initiatives.

The lawsuit against the Consumer Financial Protection Bureau was filed just two days after the bureau finalized a rule to cut credit card late fees to $8 from $32.

The Senate Banking Committee for the second time has advanced Ron Borzekowski's nomination to lead the Office of Financial Research in the Treasury Department. The nomination languished amid partisan opposition last year.