CFPB Director Rohit Chopra decried the trend toward bank consolidation and proposed reforms to bank merger policy.
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The FDIC proposed amendments to its Statement of Policy on Bank Merger Transactions relevant to all insured depository institutions.
New York Attorney General Letitia James sued a bank for failing to (i) protect victims of electronic fraud and (ii) reimburse their losses.
The OCC proposed amendments to its rules, and a related policy statement, governing mergers involving (i) national banks, (ii) federal savings associations and (iii) federal branches and agencies of foreign banks.
Federal Reserve Board Vice Chair for Supervision Michael S. Barr argued that good cyber defense is "not sufficient" to address cyberattacks; he emphasized that banks must focus on operational resilience and improved risk management to confront the threat.