Banco Popular de Puerto Rico

JPMorgan Chase, Wells Fargo, Bank of America, U.S. Bank and Citi had more than $1 billion in combined first-mortgage loans as of Sept. 30.

Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.

William Demchak of PNC, Brian Moynihan of Bank of America and William Rogers of Truist had their total compensation reduced last year, as stock prices across the industry fell. The previous year, pay for bank chief executives had soared by more than 20%.

Among U.S. financial regulators, Chopra is the one who bankers fear the most. His agency is expected to battle with the financial industry in 2023 on topics ranging from discrimination to fees and the bureau's funding mechanism.

The sleepy Federal Home Loan Bank System is under intense scrutiny as critics push for more oversight and increased affordable housing while supporters say the system works well for member banks.

The impact of a weakening economy on quarterly performance will become clearer by the second week of January as banks begin to report fourth-quarter earnings.

Cullen/Frost, Columbia, Synovus, Valley National and Associated all have relatively large exposures to the office sector, which has been hurt by the popularity of remote work. Their executives point to factors that offer protection, including the geographic composition of their portfolios and the types of buildings that serve as collateral.

Ally, Truist, Citizens and SoFi are among the banks that offer student loan repayment benefits. The recent Supreme Court decision striking down President Biden's loan forgiveness plan could give a leg up to companies that provide such assistance to their employees.

Rohit Chopra, the director of the Consumer Financial Protection Bureau, weighed in on credit card late fees, an upcoming open banking rulemaking and the chaos that could result if the Supreme Court defunds the agency.

Sens. J.D. Vance, R-Ohio, John Fetterman, D-Pa., and Katie Britt, R-Ala., take seats on the Senate Banking Committee.