Sens. Elizabeth Warren, D-Mass., and Chris Van Hollen, D-Md., sent a letter to OCC officials suggesting that Bank of Tokyo was trying to avoid an investigation by New York examiners when it switched to a federal charter.
The Senate confirmed Jospeh Otting, a former business partner of Treasury Secretary Steven Mnuchin, to lead the Office of the Comptroller of the Currency.
Acting Comptroller of the Currency Keith Noreika said he thinks regulators can make a case for an exemption to carve out all small banks from the ban on proprietary trading.
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.
