U.S. Senate Committee on Banking, Housing and Urban Affairs Ranking Member Elizabeth Warren has published a letter urging the Office of the Comptroller of the Currency to withdraw a proposed rule that she says would roll back post-2008 crisis safeguards for large national banks. The letter argues that the proposal would weaken governance and risk management requirements by sharply raising the asset threshold at which those standards apply. According to the letter, the OCC proposal would increase the threshold from USD 50 billion to USD 700 billion, a 14-fold rise that would exempt 26 of the 31 largest national banks. Warren argues that banks with assets between USD 50 billion and USD 700 billion still pose material risks, pointing to the second, third and fourth largest bank failures in U.S. history three years ago as examples from the lower end of that range. She also links the proposal to a broader OCC deregulatory agenda and asks the agency to withdraw the rule immediately.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-05-07
U.S. Senate Committee on Banking, Housing and Urban Affairs Ranking Member Elizabeth Warren urges OCC to withdraw proposal exempting 26 of 31 largest national banks
The U.S. Senate Committee on Banking, Housing and Urban Affairs Ranking Member Elizabeth Warren has urged the Office of the Comptroller of the Currency to withdraw a proposed rule raising the asset threshold for enhanced governance and risk management standards for large national banks from USD 50 billion to USD 700 billion. She argues this 14-fold increase would exempt 26 of the 31 largest national banks, expose the system to risks from banks between USD 50 billion and USD 700 billion, and is part of a broader deregulatory agenda.