Joseph Otting

There is yet more drama surrounding leadership of the CFPB as President Trump reportedly considers promoting Mick Mulvaney to White House chief of staff.

Bank regulators have not even proposed a plan yet for revamping the Community Reinvestment Act, but stakeholders likely to weigh in on the plan are already establishing battle lines.

Regulators are working intently on a proposal to reform how they apply the Community Reinvestment Act after previous attempts to modernize CRA policy drew mixed reviews.

Leadership of the CFPB was thrown into turmoil Friday with reports that President Trump is considering naming acting Director Mick Mulvaney to replace White House Chief of Staff John Kelly.

Comptroller of the Currency Joseph Otting met Tuesday with acting CFPB Director Mick Mulvaney to discuss ways to reduce regulatory burden and coordinate supervision of financial firms.

The payments resolve a number of cases that date back to 2011 and were among the largest coordinated U.S. enforcement efforts in the years following the crisis.

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.

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