On his last day at the agency, Keith Noreika called for scaling back the Bank Holding Company Act, arguing that it burdens banks with duplicative regulation and restricts their economic potential.
Acting Comptroller of the Currency Keith Noreika called for reopening the debate over the barrier between banking and commerce, saying there is evidence removing it could benefit small banks.
The new vice chairman of supervision at the Fed said the agency will seek comment on its rules for stress tests, capital and other areas, as well as look at how fintech has impacted the industry.
The companies' recently launched partnership furthers the argument that the banking and fintech industries might be better served working together rather than competing.
