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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2024-03-13T19:47:00
The acting head of the Treasury Department’s Office of the Comptroller of the Currency (OCC) said federal banking agencies are considering enhancements to their operational resiliency requirements for member banks.
In a speech delivered Tuesday at an industry event, Acting Comptroller of the Currency Michael Hsu said federal banking agencies will take steps to strengthen the operational resiliency of the country’s critical financial infrastructure.
U.S. agencies referred to by Hsu as considering operational resiliency framework enhancements included the OCC, the Federal Reserve Board, and the Federal Deposit Insurance Corporation.
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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.
2024-03-12T20:59:00Z By Jeff Dale
Economic data and research firm Argus Information and Advisory Services agreed to pay $37 million to settle charges from the Department of Justice alleging misuse of data obtained through federal regulatory contracts.
2024-01-30T20:39:00Z By Aaron Nicodemus
The Office of the Comptroller of the Currency proposed eliminating expedited or streamlined reviews of mergers for national banks and federal savings associations.
2024-06-28T19:30:00Z By Jeff Dale
A Bank of England report warned of private equity risk management deficiencies as interest rates remain stagnant, with international coordination important.
2024-06-20T15:40:00Z By Aaron Nicodemus
Compliance departments at financial institutions must become more involved in ensuring their firm’s operational resiliency to address emerging risks, the Treasury Department’s Office of the Comptroller of the Currency said in its semi-annual risk perspective.
2024-06-07T22:34:00Z By Adrianne Appel
Compliance has been “sleeping on” artificial intelligence, two panelists discussed at Compliance Week’s Women in Compliance Summit. The profession should be positioned to lead on AI governance at the business level.
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