Joseph Otting

Is now the right time for banks to resume small-dollar lending?


Regulators point to traditional financial institutions as well-positioned to meet short-term credit needs during the coronavirus pandemic, but there are still a host of questions about whether the industry should try to compete with high-cost lenders.


Calls to cease non-coronavirus rulemaking grow louder


The ICBA chief’s plea for a six-month halt to regulations not related to the pandemic followed similar calls by community groups and a key Senate Democrat.


Regulators back small-dollar loans to help consumers in crisis


The joint statement said examiners will not impede banks’ responsible efforts to offer open lines of credit, closed-installment loans or other products to borrowers dealing with fallout from the pandemic.


Community banks seek broader exemption from CRA changes


The OCC and FDIC’s proposal for modernizing the community reinvestment law would give banks below $500 million of assets the option to keep the current regime. But bankers and industry representatives say that threshold should be higher.


Agencies cancel community reinvestment conference due to coronavirus


The banking regulators have announced that they are postponing next week’s National Interagency Community Reinvestment Conference because of growing health concerns about the virus outbreak.


OCC's Otting takes another swipe at Fed over CRA reform


Comptroller of the Currency Joseph Otting suggested the central bank was adopting a “partisan” stance against his plan to overhaul the Community Reinvestment Act.


Intuit eyes Credit Karma; JPMorgan Chase plans U.K. digital bank


The deal, which could be announced Monday, would push the TurboTax maker into consumer finance; the bank would follow U.S. rival Goldman Sachs into the British market.


Banks urged to follow Goldman’s lead on fossil fuel


Goldman Sachs pledged in late 2019 to stop financing projects in coal and Arctic oil exploration. Activist groups and Democratic senators say other large institutions should do the same given the economic and environmental risks from climate change.


Regulators extend CRA comment period, bowing to congressional pressure


In a sudden reversal, the OCC and FDIC said they would push back the deadline to April for groups to weigh in on the proposal to modernize the Community Reinvestment Act.


Is partisanship seeping into bank regulators’ discourse?


Compared with incendiary fights elsewhere in the capital, deliberations among the banking agencies tend to be more banal. But on issues from the Volcker Rule to CRA reform, disagreements lately between officials have grown sharper.