Top U.S. Regulator Said to Lobby Bank CEOs on Overhaul of Low-Income Lending Rules
WASHINGTON— Joseph Otting, a top U.S. regulator, is personally lobbying bank chiefs to win support for his signature initiative: an overhaul of rules governing hundreds of billions of dollars in lending to low-income areas.
Mr. Otting, the comptroller of the currency, has reached out to some of the country’s most prominent bank chief executives this month. They include JPMorgan Chase & Co.’s James Dimon, Bank of America Corp. ’s Brian Moynihan and more than a dozen other bank chiefs, according to people briefed on the conversations.