OCC

Europe's top finance ministers are questioning the U.S.'s commitment to the global capital standards. The mistrust could have consequences for international regulatory efforts.

During his second day of congressional testimony this week, the Federal Reserve chair said the central bank does not have supremacy over other agencies on their joint rulemaking.

The Federal Reserve chair said there is a consensus within the central bank's board of governors for reproposing its capital rules, but notes that other agencies have not yet signed off on this approach.

Federal Reserve Chair Jerome Powell said there have been "no decisions" on the controversial capital reform plan, but banks and others who have criticized the proposal are eager for an indication about what's next.

Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.

Acting Comptroller Michael Hsu emphasized Monday the importance for banks to prioritize fairness in innovation, urging vigilance in navigating compliance risks associated with emerging technologies like AI.

The three former Washington Federal Bank for Savings board members were accused of giving the OCC false information in an attempt to hide embezzlement. They could face up to five years in prison for attempting to deceive the OCC.

The Delaware bank, which is also seeking to move its headquarters to South Dakota, says a national charter will allow it to more easily expand across the country as it builds on its banking-as-a-service business model.

In late July, the Justice Department notified the Houston bank of a potential lawsuit alleging violations between 2013 and 2017, according to a securities filing. Cadence said that its prospective merger partner, BancorpSouth, supports the settlement discussions.

A congressional resolution that invalidates the regulation issued last fall by the Office of the Comptroller of the Currency would help regulators crack down on so-called rent-a-bank schemes that promote predatory lending, the president said before signing the measure.