| Date | Action | Agency | Summary |
|---|---|---|---|
| 2025-07-01 | CFPB Dismisses Consent Order Against Navy Federal Credit Union |
CFPB
|
The CFPB has dismissed its 2024 consent order against Navy Federal Credit Union for illegally charging more than $95 million in surprise overdraft fees to servicemen and women and their families. The consent order would have required the company to pay more than $80 million in restitution back to consumers and to pay a $15 million civil penalty to the CFPB’s victims relief fund. |
| 2025-07-01 | OCC stops efforts to find and stop discrimination in banking |
OCC
|
The OCC announced that it has stopped using disparate impact theory in fair lending examinations. It will now only recognize overt acts of discrimination by banks and ignore acts that do not have a discriminatory intent but still result in an unfair outcome.
|
| 2025-06-27 | FDIC Proposes a Rule that Would Weaken Bank Capital Requirements |
FDIC
|
The FDIC Board voted unanimously 3-0 to propose changes to the enhanced supplementary leverage ratio (eSLR) standards. The proposal, along with anticipated similar actions by the other banking agencies, would significantly weaken capital requirements for Wall Street megabanks. Lowering leverage-based capital requirements will fail to alleviate Treasury market pressures and will increase risks to financial stability. Such undercapitalization places the economy at substantially increased risk for another financial collapse. Notably, the public board meeting, originally scheduled for June 26, 2025 was cancelled and this decision was made privately by notational vote. Read Better Markets’ statement here. |
| 2025-06-27 | OCC Proposes a Rule that Would Weaken Bank Capital Requirements |
OCC
|
The OCC joined the Fed and the FDIC to propose lowering capital requirements by changes to the enhanced supplementary leverage ratio (eSLR) standards. The proposal, along with anticipated similar actions by the other banking agencies, would significantly weaken capital requirements for Wall Street megabanks. Lowering leverage-based capital requirements will fail to alleviate Treasury market pressures and will increase risks to financial stability. Such undercapitalization places the economy at substantially increased risk for another financial collapse. Acting Comptroller Rodney Hood publicly stated his support for the change on June 25, 2025. |
| 2025-06-25 | Extension of Daily Reserve Computation Requirement |
SEC
|
The SEC extended the deadline for broker-dealers to compute the amount of assets they need to hold in their reserve account daily rather than weekly. Allowing brokers to continue to calculate their reserve requirement weekly rather than daily increases the risk that if the broker fails it will have insufficient funds to repay customers. |
| 2025-06-25 | Fed Proposes a Rule that Would Weaken Bank Capital Requirements |
Federal Reserve
|
The Federal Reserve Board of Governors voted 5-2 to propose lowering capital requirements by changes to the enhanced supplementary leverage ratio (eSLR) standards. The proposal, along with anticipated similar actions by the other banking agencies, would significantly weaken capital requirements for Wall Street megabanks. Lowering leverage-based capital requirements will fail to alleviate Treasury market pressures and will increase risks to financial stability. Such undercapitalization places the economy at substantially increased risk for another financial collapse. Notably, Governor Barr and Governor Kugler objected to the proposal, recognizing its unreasonable risk. Read Better Markets’ statement here. |
