Citizens Financial Group plans to merge its two banking charters into a single national bank. The move would make the OCC the bank's primary regulator and eliminate the costs of dealing with the FDIC and state officials.
Citizens Financial, Regions and SunTrust reported strong gains in consumer banking, including loans made through partnerships with retailers and fintech lenders. They want to keep it up to compensate for slack in commercial lending.
Ned Handy, who will take the helm in March, wants to be more aggressive luring deposits in the company's home state. That should reduce the company's reliance on other funding sources to support loan growth.