Verdict on OCC’s supervision of Wells Fargo expected in late spring; TD Bank names Matt Boss its new consumer products chief; CenterState and South State plan $3.2B merger with operations stretching from Virginia to Florida; and more from this week’s most-read stories.
Comptroller of the Currency Joseph Otting upset some House Democrats when he was a no-show at a previous oversight hearing. They will now get a chance to question him about the future of the Community Reinvestment Act.
In the past, the agency cited the legal term in enforcement actions without stating what it meant, but Director Kathy Kraninger has sought to give the industry clearer guidance.
The National Credit Union Administration plans to unveil new capital proposals on Thursday. It's a given that bankers won't like them, but credit unions could also find themselves disappointed.
The comptroller of the currency stood firm in defense of his agency's proposal, saying skeptics of various parts of the draft framework do not have their facts straight.
Lawmakers advanced legislation that would require banking regulators to give annual testimony to lawmakers and would mandate regular reports on cybersecurity efforts.
Former CFPB Director Richard Cordray and consumer advocates have designed a proposed state consumer agency that would subject more financial firms and fintechs to state oversight.
California Gov. Gavin Newsom plans to ask the legislature to revamp the current Department of Business Oversight and rename it the Department of Financial Protection and Innovation, modeled after the federal CFPB.
