The bank was fined $25 million for what the Office of the Comptroller of the Currency said was an inability to provide the discounts to all who were eligible.
The online lending industry has turned to the courts, Congress and now federal banking agencies in an effort, thus far fruitless, to blunt the impact of a 2015 appeals court ruling.
Recent remarks from top officials at the FDIC and Fed suggest the agencies' recent impasse over reforming the Community Reinvestment Act may be ending.
If the United Kingdom leaves the EU without a deal, certain contracts held by U.S. entities and relocated outside the U.K. will not face new margin requirements.
Federal regulators normally hesitate even to name specific institutions, but the Office of the Comptroller of the Currency appears to be taking a different tack with Wells.
Community bankers and state regulators want the FDIC and other agencies to rethink their approach to a simplified capital ratio for smaller institutions.
If there is renewed interest in a proposal to restrict incentive-based plans, that isn’t enough to overcome obstacles that have hindered the rulemaking for so long.
The combined bank would be chartered in North Carolina, with the FDIC serving as its lead federal regulator, N.C. Banking Commissioner Ray Grace says. The merger partners had other options, including the Fed and the OCC.
While the OCC has led the charge on modernizing the Community Reinvestment Act, Gov. Lael Brainard gave a rundown of new ideas under discussion — from updating assessment boundaries to a comprehensive community development test.
