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On December 2, 2025 the House Financial Services Committee held an oversight hearing with leaders of the Federal Deposit Insurance Corporation, Federal Reserve Board, the National Credit Union Administration and the Office of the Comptroller of the Currency.
Earlier this week, the Federal Reserve Board (“FRB”) issued a press release on changes in supervisory approach consistent with Vice Chair of Supervision Michelle Bowman’s priorities, which she articulated in, among other places, a speech we covered in June when she was just confirmed to the Vice Chair position.
On November 5, 2025, the Federal Reserve Board (“FRB”) finalized changes to its supervisory rating framework for large bank holding companies. The finalized LFI framework is substantially similar to the proposal issued in July.
Last week, on October 7, 2025, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) (collectively, the “Agencies”) issued two joint notices of proposed rulemaking (NPRs). First is an NPR to codify the elimination of reputation risk from their supervisory programs the “Reputation Risk NPR”). Second, is an NPR to define the term “unsafe and unsound practice” (the “Safety and Soundness NPR”).
As we previously reported, on August 29, the Federal Reserve Board (“FRB”) announced the individual capital requirements for all large banks, effective on October 1. This announcement follows the June announcement on the results of the supervisory stress test (also known as the Dodd-Frank Act Stress Test or DFAST, as these tests are required by Section 165 of the Dodd-Frank Act), which assesses whether banks are sufficiently capitalized to absorb losses during a severe recession.
On September 8, 2025, the Office of the Comptroller of the Currency (“OCC”) released a press release and two bulletins aimed at curbing so-called debanking activities, and reminding banks of their obligations to protect customer financial records. These actions from the OCC seem to closely follow Executive Order 14331, “Guaranteeing Fair Banking for All Americans” issued on August 8.
Last week, (almost two years to the day of when it was issued), the Federal Reserve Board (“FRB”) rescinded SR Letter 23-7 regarding the creation of the Novel Activities Supervision Program. The FRB stated that supervision of certain crypto and fintech activities is now better understood and supervision of those activities will be integrated back into the standard supervisory process.
On July 22nd, the Federal Reserve Board hosted the Integrated Review of the Capital Framework for Large Banks Conference. The Conference appears to be a first of its kind for the FRB, and as Chair Jay Powell noted in his opening remarks, was the brain child of Vice Chair of Supervision Michelle Bowman.
Last week, the Federal Deposit Insurance Corporation, Federal Reserve Board, and the Office of the Comptroller of the Currency issued a proposed rulemaking to both rescind the Community Reinvestment Act final rule issued in October 2023 and reinstate the CRA framework that existed prior to the October 2023 final rule.
On June 27, the Federal Reserve Board issued the aggregate and individual results of the supervisory stress test (also known as the Dodd-Frank Act Stress Test or DFAST, as these tests are required by Section 165 of the Dodd-Frank Act), which assesses whether banks are sufficiently capitalized to absorb losses during a severe recession.