All OCC articles – Page 8
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Blog
OCC report highlights evolving risks
The Office of the Comptroller of the Currency has released its latest assessment of the strategic, credit, operational, and compliance risks that are top and evolving concerns for the federal banking system.
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Blog
President Trump announces new nominees for key posts
President Donald Trump has announced the nominations of several new agency officials, including a new Comptroller of the Currency and assistant attorney general for the Justice Department.
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Blog
Big changes at OCC; Curry out, Noreika in
After five years of service, Comptroller of the Currency Thomas Curry will be leaving the agency. Keith Noreika, a partner at the law firm Simpson Thacher & Bartlett, will serve as acting Comptroller of the Currency.
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Blog
OCC details mistakes with Wells Fargo supervision
An internal review conducted by the Office of the Comptroller of the Currency details supervisory shortcomings related to malfeasance at Wells Fargo. Among the problems: all but ignoring more than 700 whistleblowers.
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Blog
Former OCC director of enforcement and compliance joins Buckley Sandler
Ellen Warwick, former director for enforcement and compliance for the Office of the Comptroller of the Currency (OCC), has joined international law firm Buckley Sandler as a senior counsel in the firm’s Washington, D.C. office.
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Article
FinTech takes a great leap forward
The Office of the Comptroller of the Currency has outlined, in greater detail, what it will take for FinTech firms to be chartered as national banks.
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ArticleBattle lines are drawn; OCC debates charters for FinTech firms
FinTech firms could be chartered as special-purpose national banks under a proposal being developed by the OCC. The plan, however, writes Joe Mont, could be challenging for firms and has unleashed a flurry of criticism.
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Blog
OCC details top bank risks, stresses compliance
The Office of the Comptroller of the Currency reports that strategic, credit, operational, and compliance risks remain top concerns for banks and other financial institutions. Joe Mont explores.
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Blog
OCC sets stage for FinTech firms to charter as national banks
The Office of the Comptroller of the Currency will consider applications from financial technology (FinTech) companies to become special purpose national banks. Charters would come with heightened risk management and liquidity requirements.
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Blog
Amid Hurricane Matthew, banks reminded of post-disaster best practices
With Hurricane Matthew charting a destructive path aloong the U.S. coastline, the Office of the Comptroller of the Currency has some pre- and post-disaster guidance for affected banks. Joe Mont reports.
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Blog
OCC crafts guidance on correspondent banking risk
The Office of the Comptroller of the Currency has issued risk management guidance that addresses periodic reevaluations of the risks associated with foreign correspondent banking accounts. More from Joe Mont.
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Blog
OCC pitches resolution plan for uninsured national banks
The Office of the Comptroller of the Currency has proposed a rule that would establish a framework to place uninsured national banks into receivership, contributing “to the broader stability of the federal banking system.” Joe Mont reports.
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Blog
OCC warns banks about new communication tech
The Office of the Comptroller of the Currency has issued guidance for the banks it oversees regarding their obligations related to the maintenance of records, records retention, and examiner access to those documents in light of new communications technologies. Joe Mont offers some details on the guidance.
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Blog
Proposed rule extends big bank liquidity demands
A busy day for bank regulators on Tuesday led to proposed rules dealing with new liquidity requirements, incentive-based compensation, and how small banks are assessed for deposit insurance. Joe Mont reports.
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Article
OCC will add "recovery plans" alongside big bank stress tests
The Office of the Comptroller of the Currency is seeking comment on “enforceable guidance” that will require banks with assets of $50 billion or more to create “recovery plans.” While resolution plans, orchestrated by the Federal Reserve and Federal Deposit Insurance Corporation, largely focus on liquidity and asset quality, the ...
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Blog
Analyzing Your Risks in the Banking Sector
Image: Now that the Federal Reserve has raised interest rates for the first time in seven years, it’s as good a time as any to worry about risks in the banking system; and thankfully two different regulators—the U.S. Office of the Comptroller of the Currency, and the International Organizations of ...
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Blog
Top Banking Risks Tallied by OCC
Strategic, underwriting, cyber-security, compliance, and interest rate risks sit atop the Office of the Comptroller of the Currency’s list of supervisory concerns in its Semi-annual Risk Perspective. Banks continue to face strategic challenges to growing revenues to meet target rates of return in a slow-growth, low interest rate environment, the ...
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Article
As Compliance Risks Keep Rising, Banks Keep Rethinking
A sea change in risk is happening at big banks: Non-financial risks (read: regulatory compliance failures) are now driving the compliance conversation at large firms more than financial risks. “You can have adequate capital, adequate liquidity; but if you have the wrong kind of culture, that is where the problems ...
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Blog
OCC's Focus on Credit Risk Includes Auto Loan Concerns
A side effect of the economic recovery is that credit risk is now "moving to the forefront," says Comptroller of the Currency Thomas Curry. As banks reach for loan growth with less creditworthy borrowers, the resulting risk is prompting increased regulatory scrutiny of auto, home equity, and commercial real ...
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Blog
New OCC Task Force on Banking Innovation
Image: The Office of the Comptroller of the Currency is pulling together a team to consider the regulatory implications of advances in banking technology. “We’re still early in the process, so I can’t tell you exactly where we’ll end up,” OCC director Tom Curry said. He did float the idea ...