Michael Hsu, acting comptroller of the currency at the Office of the Comptroller of the Currency (OCC), recently voiced support for a new proposal by Federal Deposit Insurance Corp. (FDIC) to apply additional scrutiny when reviewing bank mergers that will result in combined assets that exceed $100 billion. Hsu on Thursday...
Michael Hsu, CEO and acting comptroller of the currency for the Office of the Comptroller of the Currency (OCC), recently reiterated his agency’s commitment to mitigating any perceived risks in banking — especially those triggered by collaborations with FinTechs. Speaking last week at Vanderbilt University,...
Michael Hsu, the acting comptroller of the currency, emphasized the importance of banks actively managing risks associated with their relationships with FinTech companies. During a Wednesday (Feb. 21) speech at Vanderbilt University, Hsu highlighted the growing number of partnerships between nonbank FinTech companies and banks to...
American lenders have loaned so-called “shadow banks” more than $1 trillion, and regulators are worried. That’s according to a report Saturday (Feb. 10) by the Financial Times (FT), which cites recent figures from the U.S. Federal Reserve showing that U.S. banks’ loans to non-deposit-taking financial...
February 21, 2024
Michael Hsu, the acting comptroller of the currency, emphasized the importance of banks actively managing risks associated with their relationships with FinTech companies. During a Wednesday (Feb. 21) speech at Vanderbilt University, Hsu highlighted the growing number of partnerships between nonbank FinTech companies and banks to provide banking services like checking and savings accounts to customers, […]
February 11, 2024
American lenders have loaned so-called “shadow banks” more than $1 trillion, and regulators are worried. That’s according to a report Saturday (Feb. 10) by the Financial Times (FT), which cites...
September 07, 2022
Recent events have reinforced the Office of the Comptroller of the Currency (OCC) position that lenders must ask permission before participating in the cryptocurrency industry and must show that such...
August 10, 2022
Several U.S. senators have sent a letter asking the Office of the Comptroller of the Currency (OCC) to cut back previous cryptocurrency guidance in favor of more comprehensive rules, a...
