- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2024-07-09T14:16:00
The Treasury Department’s Office of the Comptroller of the Currency (OCC) proposed a rule that would extend requirements for recovery plans to all banks with at least $100 billion in assets.
The proposed rule, published July 3 in the Federal Register, would require approximately 19 additional mid-sized banks to create detailed recovery plans to be implemented during times of severe financial stress or failure.
The OCC’s current recovery planning guidelines apply to large banks with more than $250 billion in assets or to banks with less than $250 billion if they are highly complex or present what the agency considers to be heightened risks.
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2024-05-29T20:01:00Z By Aaron Nicodemus
Acting Comptroller of the Currency Michael Hsu said he favors requiring more mid-sized U.S. banks to conduct the same rigorous recovery planning as the largest banks, part of a lesson learned from the collapse of three mid-sized banks in 2023.
2024-03-26T19:20:00Z By Aaron Nicodemus
Acting Comptroller of the Currency Michael Hsu argued banks should adopt a “strong sense of fairness” to bolster the effectiveness of their compliance programs, particularly regarding lending decisions guided by AI and machine learning tools.
2023-10-10T14:00:00Z By Aaron Nicodemus
Bank examiners from the Office of the Comptroller of the Currency are focusing their supervision attention on how banks manage risks that brought down three mid-sized financial institutions earlier this year.
2025-04-24T18:07:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau (CFPB) has quickly become one of the most active agencies advancing the Trump administration’s pullback on prosecuting corporations, as it dropped yet another consumer protection lawsuit against a financial services company Wednesday.
2025-04-21T12:00:00Z By Neil Hodge
The United Kingdom’s latest effort to encourage regulators to pare down rules to attract companies and investment as a way to stimulate the economy has received mixed reviews from lawyers.
2025-04-18T14:01:00Z By Aaron Nicodemus
A federal judge has ruled that Google “willfully engaged in a series of anticompetitive acts” in the advertising technology industry, the latest antitrust setback in what could become a string of losses for tech companies.
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