Regulatory guidance

Brian Moynihan argued Tuesday that the president's allegations of politically motivated debanking stem from the problem of overregulation.

It would be a mistake for regulators in the U.S. and Canada to delay the rollout of rules supporting open banking. Fears of bank runs as a result of customer access to their own financial data are overblown.

The agency finalized a policy allowing companies to submit formal requests for clarification on a regulatory issue. The bureau said it will publish the advisory rulings in the Federal Register.

The forthcoming measure could override staff opinions that helped certain deposit-gathering companies partner with banks.

The proposed regulation would codify a 2018 pronouncement by regulators that guidance does not carry the force of law.

The rule, which will go up for a 60-day comment period, codifies existing NCUA policies and is not expected to change how the agency operates.

The credit union regulator will meet for a second time this month when the board holds an open meeting on Wednesday.

Regulators said they will allow banks to deduct Treasury securities — a source of market volatility in the pandemic — from the net stable funding ratio on the same day they provided relief from auditing requirements.

In July, the OCC issued a letter clarifying that federally chartered banks can store cryptocurrency assets for their clients. A recent global survey finds that many are wary of the risks.

The agency issued an interpretive letter on stablecoins two months after permitting institutions to provide wallet services for cryptocurrency holdings.

The regulatory road ahead is as uncertain and risky to banks as the pandemic.

Responding to an unnamed bank that had sought the opinion, the regulatory agency issued an interpretive letter clarifying that an institution's custody services can be used for cryptographic keys and other digital currency-related assets.

The agency has proposed letting firms seek specific guidance, which can be applied to other institutions. But consumer groups worry the plan circumvents formal rulemaking.

The credit union regulator has outlined a multiple step plan to return employees to normal operations.

A lawsuit filed Tuesday argues that the bureau's establishment of the panel looking into regulatory changes violated the Federal Advisory Committee Act.

The regulator has conducted remote exam work at more than 100 institutions since March and does not plan to return to its normal examination process "until further notice."

Banks would be wise to dust off their Great Recession playbook and shed nonperforming loans while growing through M&A.

Rodney Hood, chairman of the National Credit Union Administration, will testify before the Senate Banking Committee about how the regulator and the industry have responded to the coronavirus pandemic.

For the second time in a week, the National Credit Union Administration has delayed the deadline for public comment on a proposed regulation.

The regulator's extension for first-quarter documents applies to BHCs with less than $5 billion in assets.