PNC's Demchak Warns OCC Merger Plan Would Allow Biggest Banks to `Grow Unchecked'

Also, Rep. Hill preaches to the choir at community bank conference; two senior House Democrats raise new concerns about SEC broker AI proposal

It’s not often that the CEO of a major bank pens a comment to a regulator. PNC’s Bill Demchak just did – and his blunt take on the OCC’s merger policy proposal is stirring a lot of talk in Washington.

Demchak not only used the occasion to pan Acting Comptroller Michael Hsu’s effort, but he also called out his biggest competitors, JPMorgan Chase and Bank …