The combined bank would be chartered in North Carolina, with the FDIC serving as its lead federal regulator, N.C. Banking Commissioner Ray Grace says. The merger partners had other options, including the Fed and the OCC.
While the OCC has led the charge on modernizing the Community Reinvestment Act, Gov. Lael Brainard gave a rundown of new ideas under discussion — from updating assessment boundaries to a comprehensive community development test.
The Federal Reserve voted Wednesday to keep the countercyclical capital buffer at its current level of zero, ending some speculation that the board could be looking at a possible increase.
U.S. regulators are poised to scrap their proposal for revising Volcker Rule restrictions on banks' trading in favor of a newer version as they respond to a misstep that drew fire from Wall Street lobbyists, according to people familiar with the effort.
Lawmakers on the Senate Banking Committee pushed Federal Reserve Chair Jerome Powell for details about how he plans to review the proposed merger between the two regional banks.
