QUORUMCALL//GPT:
SENATOR WARREN’S BANK SCRUTINY
Sen. Elizabeth Warren is advocating for more Federal Reserve and Office of the Comptroller of the Currency (OCC) oversight for New York Community Bancorp (NYCB).
WHY THIS MATTERS
– Warren is concerned about NYCB’s plans to expand its multifamily lending business. She warns that such a move could put the bank and the broader economy at risk if there’s a downturn in the multifamily market.
– The senator has outlined her issues in a letter to Fed Chair Jerome Powell and OCC head Joseph Otting. She wants regulators to question NYCB’s plans further before granting approval.
TOPICS COVERED
#FederalReserve #OCC #BankingRegulation
SOURCE
This summary is based on a report from Seeking Alpha, a crowd-sourced content service for financial markets.
