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.
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.
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.
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.
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.
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.
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.
