The industry’s profit was $60.2 billion, a more than 7% increase from the previous record set in the first quarter and a 25% leap from a year earlier, the agency said in its quarterly report on the industry's health.
A new law exempts small lenders from expanded mortgage data reporting, but regulators are signaling that banks no longer have to collect the data either.
Online lenders and other firms await news from OCC and Treasury on the future of their supervision, even as they absorb the news that Square had to temporarily pull its industry loan company application.
The two Wall Street firms anxiously await the second round of stress test results; Commerzbank is working on using technology to generate basic research notes.
Jelena McWilliams said the agency will ask banks what's working and what's not; the acquisition of Hyperwallet Systems lets PayPal offer more services.
In her first speech as chairman, Jelena McWilliams signaled a focus on reviewing old policies, speeding up decisions on new bank applications and helping banks navigate marijuana laws.
The appointment of the former top lawyer at Fifth Third Bank rounds out the Trump administration’s picks to run the federal prudential banking agencies.
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.
