OCC’S CURRY WARNS BANKS EXPOSED TO “FROTH” IN MULTIFAMILY MARKET,

[Michael Upshur]

(5/16, Lambert, Crimmins) reports that on Monday Comptroller of the Currency Thomas Curry spoke before the Reuters Financial Regulation Summit, warning that credit risk is growing in the CRE market, with some banks exposed to "froth" in the apartment markets in certain cities. Curry also discussed the OCC's involvement with fintech, explaining that the regulator is trying to send a message that it is "open to working through" the steps needed to regulate the industry, saying, "We're ready to talk and to think." Curry cited reticence to invest in marketplace lending firms as a good example of the benefits of partnering "with traditional banking organizations," which "may make more sense from a strategic standpoint."