The new regulation aims to standardize the process for determining if those owning less than a quarter of a bank must comply with holding company requirements.
No Republicans voted for the package of bills intended to overhaul the credit reporting system, casting doubt on its chances in the GOP-controlled Senate.
In another rollback of the bank trading ban, the federal agencies unveiled a plan to allow financial institutions to invest in multiple companies through certain fund structures.
The bank raised its return-on-equity goals, based mostly on cost cuts and its core trading business; the Fed did raise the rate it pays on bank reserves.
The promise of post-closing payments encourages top executives to pursue deals that aren’t necessarily in their self-interest, but investors may eventually raise concerns that the packages are expensive and too focused on the short term.
Federal Reserve Chair Jerome Powell said he was “comfortable” with a recent speech by Gov. Lael Brainard objecting to significant aspects of the Community Reinvestment Act plan proposed by the OCC and FDIC.
