by Matthew Russell Lee, Patreon Book Substack
SDNY/SOUTH BRONX, Oct 21 – As US bank regulators loosen rules - including the FDIC moving to eliminate public comment altogether on branch expansion applications - now big banks are moving to get bigger, most recently PNC - FirstBank and Fifth Third - Comerica.
On October 6 the Office of the Comptroller of the Currency moved to follow the FDIC in cutting out the public, even as it delays on FOIA on PNC, and deletes applications like Nubank's while letting the comment period run (out) -
"The OCC is proposing to amend its regulations to simplify licensing requirements for corporate activities and transactions involving national banks and federal savings associations" -
While tellingly the OCC's promised platform to take comments in opposition on Regulations dot gov did not even list the proposal as of late Over 6 - nor on October 7, even as the OCC responded, "Hello Mr. Lee, Thank you for your comments. To ensure your comments are documented accordingly, please submit via the methods outlined [which doesn't work] = Fair Finance Watch submitted it initial opposition, including:
the OCC proposes to make the process of public notice, public comment and CRA review nearly meaningless.
It is already toothless. On August 30, 2025 Fair Finance Watch commented to the OCC on / against the branching application of Terrabank NA noting that this national bank in Florida in 2024 made 30 mortgage loans to whites and NONE to African Americans.
On September 2 the OCC's Danielle Larrimore, Licensing Specialist, sent acknowledgement of receipt.
Then, with no further communication from the OCC, we find on its website
"Details Approved 2025-10-02 Branch Establishment 2025-BranchNew-342891 Terrabank NA 3191 Coral Way Miami FL Miami-Dade 2025-09-26"
Approved. Without order or notice or follow up. And OCC's proposals can't be found on Regulations dot gov. We'll have more on this.
See, American Banker, Sept 10, 2025, "The FDIC is taking the 'community' out of CRA enforcement," by Matthew R. Lee, here
This OCC proposal to significantly limit public notice and comment on branch applications must be withdrawn.
The OCC's response? "Hello Mr. Lee, Thank you for your comments. To ensure your comments are documented accordingly, please submit via the methods outlined in the attached document - but it is still not on Regulations dot gov. This is today's OCC.
Inner City Press, which has opposed the OCC's moves to close itself to public scrutiny, will be submitting FOIA requests on all this. Watch this site.
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