In his inaugural hearing as comptroller of the currency, Joseph Otting defended his decision not to publicly rebuke banks for Wells Fargo-like problems.
More than a dozen lawmakers wrote to the banking agencies Friday, arguing that any regulatory reforms to the Community Reinvestment Act should focus on expanding access to credit.
Banks earned a record-shattering $56 billion in the first quarter, even before the regulatory relief bill is enacted. More victories, policy and otherwise, are on their way.
The Federal Reserve's decision to allow the Territorial Bank of American Samoa access to the U.S. payment system creates only the second public bank in the country, and may pave the way for others in California, New Jersey and elsewhere.
Vice chairman set to leave agency on Monday; big regionals are caught in the middle, losing share to both the biggest national banks and community institutions.
