Several financial tech companies that applied to become national banks are seeking exemptions from many provisions of the Community Reinvestment Act. A consumer advocacy group and the American Bankers Association say the OCC mustn't allow this.
After calling off its bid to buy the data aggregator Plaid, the card network is shifting its focus back to its role as an enabler of digital payments and related services.
The company said it would have eventually prevailed against the DOJ’s antitrust suit; the Ohio senator says the panel will focus on climate change and housing issues.
A Democratic majority in Washington may help advance a number of key legislative issues for the industry, such as passage of a national data security standard. However, it could also lead to a renewed focus on consumer protection laws.
Commercial real estate portfolios have held up better than expected during the pandemic. But rising delinquencies and fears of a delayed economic recovery are renewing questions about credit quality.
Brian Brooks is planning to leave the Office of the Comptroller of the Currency within days, according to a published report and a source familiar with the situation.
Visa and Plaid have terminated their tie-up and reached an agreement with the Department of Justice to dismiss the litigation brought against them when the deal raised antitrust questions.
Sen. Sherrod Brown, D-Ohio, said elevating affordable housing issues, examining the financial system through a climate and racial justice "lens" and holding banks accountable for their impact on consumers will be among his priorities.
