Regulator terms

What's up

[ March 30, 2023 ] Office of Financial Technology opens at OCC, with new leader, to bolster ability to deal with tech changes at banks OCC
[ March 30, 2023 ] New small business lending reporting rule finalized after 13 years in the making CFPB
[ March 30, 2023 ] Wells Fargo slapped with fines of nearly $98 million for ‘historical inadequate oversight’ of sanctions compliance risks The Fed
[ March 30, 2023 ] Credit union regulator lists 2023 criteria for collecting mortgage loan application data NCUA
[ March 29, 2023 ] May 3 is comment deadline for CFPB credit card late-fee proposal CFPB

Regulators/positions, term ending dates (nominations)

Names, positions and term-ending dates for federal financial institution regulators

AGENCY	POSITION	REGULATOR NAME	TERM ENDS
CFPB	Director	Chopra, Rohit	2026, September
FDIC	Chairman	Gruenberg, Martin	2028, January (also serving 6-year term as board member, expiring Jan. 2029)
FDIC	Vice Chairman	Hill, Travis	2028, January
FDIC	Director (Appointive)	McKernan, Jonathon	2024, May 31
FDIC	Director (Acting Comptroller of the Currency)	Hsu, Michael J.	Undetermined (Hsu succeeded Blake Paulson as Acting Comptroller May 10, 2021, upon designation by Treasury Secretary Janet Yellen))
FDIC	Director (CFPB Director)	Chopra, Rohit	2026, September
Federal Reserve	Member	Cook, Lisa D	2024, Jan. 31
Federal Reserve	Vice Chair	(Vacant, upon resignation of Lael Brainard, Feb. 20, 2023)	(Vacant)
Federal Reserve	Member	Jefferson, Phillip N.	2036, Jan. 31
Federal Reserve	Chair	Powell, Jerome	2026, May 15 (term as board member ends Jan.31, 2028)
Federal Reserve	Vice Chair for supervision	Barr, Michael	2026, July 13 (term as board member ends Jan. 31, 2032)
Federal Reserve	Member	Bowman, Michelle "Miki"	2034, Jan.
Federal Reserve	Member	Waller, Christopher	2030, Jan.
NCUA	Vice Chairman	Hauptman, Kyle S.	2025, Aug.
NCUA	Member	Hood, Rodney	2023, Aug.
NCUA	Chairman	Harper, Todd M.	2027, April
OCC	Acting Comptroller of the Currency	Hsu, Michael J.	Undetermined (Hsu succeeded Blake Paulson as Acting Comptroller May 10, 2021, upon designation by Treasury Secretary Janet Yellen.)

Office of Financial Technology opens at OCC, with new leader, to bolster ability to deal with tech changes at banks

March 30, 2023 0

A new Office of Financial Technology, as well as the leader of that new department, was announced Thursday by the regulator of national banks. The new office, which the Office of the Comptroller of the Currency (OCC) said last fall [...]
New small business lending reporting rule finalized after 13 years in the making

March 30, 2023 0

A new rule requiring lenders to collect and report information about the small business credit applications they receive, including geographic and demographic data, lending decisions, and the price of credit, was finalized Thursday by the federal consumer financial protection bureau. [...]
Wells Fargo slapped with fines of nearly $98 million for ‘historical inadequate oversight’ of sanctions compliance risks

March 30, 2023 0

Fines of nearly $98 million were assessed against the holding company of Wells Fargo bank Thursday for its “historical inadequate oversight of sanctions compliance risks” which resulted in more than $530 million in prohibited transactions over a five-year period. The [...]
Credit union regulator lists 2023 criteria for collecting mortgage loan application data

March 30, 2023 0

All credit unions with more than $54 million in assets will be required to collect data associated with mortgage loan applications processed in 2023, the federal credit union regulator said Thursday. In a “regulatory alert” (23-RA-02), the National Credit Union [...]