Delaying a proposed benchmark for grading banks' performance in Community Reinvestment Act exams to appease critics of its initial proposal will make it harder to gauge the final rule’s impact.
Banks have managed to steer around trouble spots in energy, hotel and mall-related credits. But fears of further deterioration, an eviction wave or more job losses are keeping lenders circumspect.
The credit union regulator has no immediate plans to bring staff and examiners back into the office, but Chairman Rodney Hood said staying remote would remain an option for all staff members during Phase 1 of any return.
Quarles says the pandemic revealed flaws in the financial system that have yet to be fixed; big banks will need to have enough funds on hand to meet their needs for a year.
Many credit unions offer youth accounts to help establish early banking relationships, but a new account for kids from the nation’s largest bank has raised the level of competition.
National banks just got the OCC's go-ahead this summer to hold and transfer digital assets like bitcoin for customers, but the Paris-based bank has already vetted the technology needed to do the job.
Weak loan demand, persistently low yields and the continued struggles of sectors such as hospitality and retail are among the myriad lending challenges facing small regional banks.
The agency confirmed that loans backed by Fannie Mae and Freddie Mac can continue avoiding debt-to-income limits as the bureau completes a revamp of the Qualified Mortgage standard.
