Office of the Comptroller of the Currency
Citigroup Fined $400M Over Risk System Defects
“The public rebuke marks a major escalation of regulators’ efforts to get Citigroup to fix its risk systems."
Fintech Varo Wins FDIC Approval To Take Deposits
The company said the approval was “a significant step in [its] application process for a national bank charter.”
Former Wells Fargo CEO Banned From Banking
A regulator also fined John Stumpf $17.5 million for failures of leadership that contributed to the bank's fake-accounts scandal.
OCC Cannot Grant Special Bank Charters to Fintech Companies
Tech startups trying to become banks can no longer expedite the process with a fintech charter.
N.Y. Regulator Sues U.S. Over Fintech ‘Folly’
The Department of Financial Services is challenging the Trump administration's move to allow fintech firms to apply for national bank charters.
Square Applies for Charter to Form Bank
The payments firm wants to offer a one-stop shop for financial needs by operating Square Financial Services under an industrial loan company charter.
Bank Regulator Steps Up Wells Fargo Oversight
“This is the OCC saying, ‘We don’t trust you to run your business,’” a former bank examiner says.
Regulators Target Banks’ Cybersecurity Policies
A draft proposal by three agencies seeks to boost cyber defenses and reduce the impact on the financial system of an attack.
Is the Future of Fintech a Bank Charter?
The benefits in bank conversion are clear, but the path to getting approval from regulators that tend to distrust innovation is challenging.
Bank's credit underwriting standards loosened considerably in 2014, especially among commercial loan products, says the OCC.
Leveraged Lending Pullback Tied to Regulatory Scrutiny
Large U.S. banks may be heeding the warnings of regulators and staying away from highly leveraged deals.