Critics of the OCC have long maintained that the agency was too close with the San Francisco bank. A watchdog's assessment of what transpired between 2009 and 2017 is expected to be completed late this spring.
A fifth of U.S. banks may lack the stock multiples it takes to pursue acquisitions, so they're looking for other ways to improve results and deploy capital.
The six bills championed by Democrats aim to reduce consumer burdens and provide opportunities for borrowers to rehabilitate their credit, but the legislation garnered no Republican support.
To guard against headwinds in the agricultural sector, the Federal Deposit Insurance Corp. recommended that institutions consider the “overall financial status” of farm loan borrowers.
The largest bank in Puerto Rico said hundreds of millions of dollars of its mortgages and consumer loans are tied to the parts of the island hit by the recent quake or still recovering from two hurricanes.
Comptroller of the Currency Joseph Otting upset some House Democrats when he was a no-show at a previous oversight hearing. They will now get a chance to question him about the future of the Community Reinvestment Act.
Some fraudsters pose as loan applicants and submit doctored video or photos of property and assets to scam lenders they won't see in person. Firms like Elevate Funding and Credibly are fighting back.
