OCC

The seven largest national banks held less than 5% of loans that were delinquent at the end of the third quarter, the Office of the Comptroller of the Currency said Friday.

Comptroller of the Currency Joseph Otting said in a press conference Wednesday morning that there is a place in the banking world for some kind of fintech charter, though the exact parameters of such a charter are still unclear and have to be worked out.

The Office of the Comptroller of the Currency is eliminating a plan designed to ensure its examiners did not get too close to the big banks they supervise.

Critics argue that the consumer bureau's independence is being undermined, and they worry that a precedent is being established that could hamper the autonomy of other U.S. financial regulators.

The former bank CEO is widely expected to continue the recent push to implement a more industry-friendly agenda.

The Trump administration insisted Saturday that OMB Director Mick Mulvaney was the rightful interim leader of the CFPB, but Democrats said that the appointment was illegal. It remains unclear who is legally in charge.

With little fanfare, President Trump officially nixed the rule prohibiting financial firms from including mandatory arbitration clauses.

The Senate's repeal of the Consumer Financial Protection Bureau rule is arguably the industry's biggest policy victory since passage of Dodd-Frank. But is it the sign of a trend?

With days ticking down for lawmakers to overturn the Consumer Financial Protection Bureau rule, some are now questioning the statistics used to challenge the bureau’s data.

The Treasury Department released an 18-page report saying the rule would “impose extraordinary costs” including legal fees mostly for lawyers that bring class-action lawsuits.

Regulators usually avoid the public fights that define other realms of the polarized Washington landscape, but the recent tiff over the arbitration rule is an exception.

Under a joint order, lenders still have to document the value of properties in storm-affected regions, but they will not have to depend on appraisers.

The Office of the Comptroller of the Currency used "flawed statistics" and misstated the effects of the Consumer Financial Protection Bureau's arbitration rule on community banks, Director Richard Cordray said Friday.

In an op-ed, acting Comptroller of the Currency Keith Noreika argued that allowing consumers to sue financial institutions in class actions would raise credit costs and harm small banks.

The proposal is aimed at a simpler capital regime particularly for community banks, but some industry representatives and regulators themselves questioned whether the plan went far enough.

Acting Comptroller of the Currency Keith Noreika on Monday gave a ringing endorsement to online lenders seeking to expand into banking, suggesting they should consider taking deposits and seek out national bank charters as they mature.

The Fed's order noted that Sterling had clarified errors in its Community Reinvestment Act data before receiving a "satisfactory" rating from the OCC.

The Office of the Comptroller of the Currency issued a proposal Wednesday that would raise the appraisal threshold for CRE loans to $400,000 from $250,000.

Democrats on the House and Senate banking committees are urging Republicans to hold hearings with Wells Fargo's top executives over its phony-accounts and force-placed insurance scandals.

Acting Comptroller of the Currency Keith Noreika said Monday that he would not interfere with the Consumer Financial Protection Bureau's rule banning mandatory arbitration after missing a key deadline to appeal the regulation.