Regulatory reform

OCC chief goes too far reimagining national bank charter


Acting Comptroller of the Currency Brian Brooks’ focus on allowing fintech firms into the federal banking sphere appears to have a more ambitious and risky goal: redefining the agency’s regulatory focus.


Fed wants banks to say what they’re doing to promote diversity


Even though financial institutions have "slightly" stepped up assessments of diversity practices, "we are not satisfied with the level of responsiveness,” a senior Federal Reserve official said in congressional testimony.


PPP lenders nearing $10B asset mark fear regulatory nightmare


Several community banks are warning Congress that their participation in the Paycheck Protection Program could cause them to cross a threshold that may lead to, among other things, supervision by the CFPB and a cap on interchange fees.


DOJ antitrust unit considers overhaul of bank merger review process


The division asked for public feedback as it weighs changes "to reflect emerging trends in the banking and financial services sector."


Divisions in mortgage industry emerge ahead of 2020 election


Political donations from the sector and interviews with industry experts highlight a wide range of views on affordable housing resources, the appropriate level of regulatory relief and how policymakers should enforce fair housing rules.


Rakuten withdrawal a relief for banks, but ILC saga's far from over


The e-commerce leader’s return to the drawing board alleviates immediate concerns about its banking plans. But the company intends to reapply, and it will be harder for the industry to persuade policymakers to block industrial loan companies more broadly.


What is Mark McWatters’ legacy at NCUA?


The former chairman of the National Credit Union Administration served at the agency during a crucial time for regulatory reform and credit union growth, though his tenure also had its share of scandals.


CFPB seeks comment on impact of credit card rules


The agency solicited input on the effects of the CARD Act regulations as part of a statutory requirement that the bureau review policies 10 years after they are implemented.


Labor Dept. plan to replace fiduciary rule catches flak from all sides


Banks and other financial firms say the proposal to reverse restrictions on investment advisers does not go far enough. Meanwhile, investor advocates say it would loosen necessary protections.


Why an OCC payments charter may not become reality


Just as legal limbo has threatened the agency’s long-running effort to create a fintech license, a charter unique to payments companies could face a court challenge, observers say.