- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2021-11-08T20:57:00
Michael Hsu, acting head of the Office of the Comptroller of the Currency, explores the role of bank boards to promote improvements in climate risk management practices at their banks.
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The Office of the Comptroller of the Currency has reinforced its commitment to confronting risks posed by climate change with the appointment of Yue (Nina) Chen as chief climate risk officer.
Bank of America, Wells Fargo, U.S. Bank, and 16 other financial institutions have formed a climate risk consortium in response to calls from investors and regulators that banks work to mitigate climate-related risks within their own operations.
The Office of the Comptroller of the Currency published draft guidance for large banks to identify, measure, monitor, and control climate-related risks to ensure the safety and soundness of their institutions and the market.
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network issued an alert to financial institutions about their obligations to report deepfakes, warning artificial intelligence has given bad actors additional tools in their arsenal.
A nationwide rental outlet affiliated with Rent-a-Center and its chief executive have been sued by the Consumer Financial Protection Bureau for allegedly deceiving five million consumers about the terms of credit agreements.
A lack of risk visibility is causing companies to reject customers–and potentially lose money–over fears they might be in danger of violating rules around anti-money laundering and sanctions regulations.
