Acting Comptroller of the Currency Brian Brooks said the agency plans to issue new assessment procedures within weeks as a follow-up to recent Community Reinvestment Act reforms. He also touched on the “true lender” issue and why the agency is considering ... Read full article
Seven trade groups said they would fight any effort by the agency to establish a tailored license for payments providers such as PayPal, Stripe and Square. ... Read full article
Financial institutions want to protect customers and employees from the coronavirus but are caught in the middle of a politically charged public health debate. The stance taken by the industry’s largest trade group gives them cover. ... Read full article
Jim Nussle, CEO of the Credit Union National Association, recently argued that Congress should do away entirely with FOM requirements. Such a move would further favor credit unions over banks. ... Read full article
In a letter to Director Mark Calabria, 17 organizations requested an additional 60 days to weigh in on the proposal meant to strengthen Fannie Mae and Freddie Mac's balance sheets post-conservatorship. ... Read full article
The court's decision not to consider an appeal from the American Bankers Association is likely to be the last step in a legal saga dating back to 2016. ... Read full article
Three banking trade associations told the FDIC that Rakuten Bank America, even after revisions to its earlier application to the agency, would still violate the separation of banking and commerce as well as present consumer privacy concerns. ... Read full article
A decision that expands the low-income definition to all active-duty military personnel will only enable large credit unions to push out smaller competitors, removing choice for people in the military. ... Read full article
The legislation would aim to address concerns that the current policy is outdated by establishing a new regime to limit asset growth for banks that are not well-capitalized. ... Read full article
The agency has responded to the American Bankers Association's legal request to strike down expanded membership rules for credit unions. ... Read full article
The Office of the Comptroller of the Currency watered down numeric metrics that some groups blasted and allowed more institutions to opt out of the new regime. But whether the agency has won over any detractors remains to be seen. ... Read full article
The OCC is plowing ahead on plans to modernize the Community Reinvestment Act, but a growing consensus of industry and community voices says now is not the time for a major overhaul. ... Read full article
The American Bankers Association and the National Bankers Association will collaborate on training and advocacy efforts. ... Read full article
In a rare show of unity, banking industry and consumer advocacy groups told congressional leaders that it is not too late to ensure individuals can access all of their coronavirus relief funds promised by the government. ... Read full article
In some cases, financial institutions are required by court order to divert funds to private creditors. But the industry has added its voice to a consensus for a legislative update to ensure Americans receive their full amount. ... Read full article
The banking lobby asserts that the NCUA's field-of-membership rule goes beyond the agency's legal mandate. ... Read full article
The American Bankers Association said it’s offering a new online course because of increased demand by members for training tailored to banking. ... Read full article
Two major banking organizations objected to a proposal by the agency that would expand the pool of investors in subordinated debt issued by credit unions. They fear it could provide credit unions more financing to buy banks. ... Read full article
A former credit union CEO explains why it chose to become a bank, subject to taxes, and says Congress needs to intervene in discussions on an NCUA proposal to loosen capital standards. ... Read full article
The National Credit Union Administration plans to unveil new capital proposals on Thursday. It's a given that bankers won't like them, but credit unions could also find themselves disappointed. ... Read full article
