The bank said it was Sloan's decision to retire, but a new report from House Democrats reveals that Fed and OCC officials made moves behind the scenes in 2018 and 2019 to pressure the bank's board to remove him.
The agency says it is not cutting its workforce but that the new strategy is necessary because it has an unusually high number of workers near retirement age.
The banking regulators have announced that they are postponing next week’s National Interagency Community Reinvestment Conference because of growing health concerns about the virus outbreak.
The state's Division of Banking, led by a former bank CEO and trade group chief, blocked GreenState CU's move to buy seven branches from First American Bank. This is the second time this year regulators have halted a credit union-bank deal.
Banks make emergency preparations as HSBC deals with confirmed case; the changes simplify regulations without posing additional systemic risks, the Fed says.
