Ashton Ryan, the New Orleans bank's CEO, and two other officers are accused of disguising the financial condition of certain borrowers before the bank's 2017 collapse.
Jim Nussle, CEO of the Credit Union National Association, recently argued that Congress should do away entirely with FOM requirements. Such a move would further favor credit unions over banks.
Backers say a bill to limit asset growth instead of restricting brokered funds addresses concerns about expanding balance sheets at troubled banks. But skeptics worry it would open the door to greater risk.
