Wells Fargo puts two top execs on leave as scandal's reach grows; regional banks freed from SIFI label lobbying regulators hard for more relief; FDIC to launch innovation office to help banks compete with fintechs; and more from this week's most-read stories.
Personal loans are "tricky to underwrite" because consumer credit scores are high at the time of origination and then drift downward, says Roger Hochschild, who recently took over as the head of Discover Financial Services.
The agency wants to change underwriting requirements in the regulation that lenders say will put them out of business, and give companies a break on the compliance deadline.
The central bank should consider rescinding the bank’s “financial holding company” status, which allows it to participate in nonbank activities, given its inability to respond to internal management problems.
Under the Obama administration, the OCC quietly prevented JPMorgan Chase from opening branches in new states as punishment for violating banking rules, according to sources.
Readers consider to new evidence regarding Operation Choke Point, debate the impact of Democrats taking control of the House in November, respond to concerns about weakening the Volcker Rule and more.
