The comptroller of the currency also addressed, in his role as acting FHFA head, whether Congress or the Trump administration will spearhead GSE reform.
The central bank has drawn mixed reviews for new stress test scenarios and changes to how much banks know about the test beforehand. Its top regulatory official says the enhancements help the post-crisis regime evolve.
The House Financial Services Committee will hold a hearing Feb. 26 on "holding credit bureaus accountable" — one of seven hearings scheduled by the panel for the month.
Federal Reserve Board Gov. Lael Brainard said public comments demonstrate a desire among stakeholders for reforms to be implemented consistently across the Fed, OCC and CRA.
If Cain is chosen for the Federal Reserve Board, it would be starkly out of step with the administration’s other nominations and may reveal a drastic change in the president’s attitude toward the central bank.
The European Commission says eight unnamed banks operated as a cartel in the €7 trillion eurozone government bond market; authorities detected a 150-foot tunnel leading to a JPMorgan Chase branch in Florida.
Herman Cain, the former pizza company executive who ran for the Republican presidential nomination in 2012, is being considered by President Trump for a seat on the Federal Reserve Board.
