A U.S. banking regulator has reportedly determined that many lenders aren’t prepared for risks. As Bloomberg News reported Sunday (July 21), a confidential assessment by the Office of the Comptroller of the Currency (OCC) said 11 of the 22 large banks it oversees have “insufficient”...
Political polarization presents a long-term risk to banking, Acting Comptroller of the Currency Michael J. Hsu said Wednesday (July 17). The Office of the Comptroller of the Currency (OCC) has seen a risk of fragmentation as it monitors banking law developments at the state and local level,...
Banks can help combat fraud targeting consumers by verifying the accuracy of transactions, educating the public, and maintaining strong controls and fraud monitoring capabilities, Acting Comptroller of the Currency Michael J. Hsu said. Speaking Wednesday (July 10) during the Financial Literacy and Education Commission’s Public...
VersaBank needs only one more regulatory approval to proceed with its acquisition of Stearns Bank Holdingford. The bank received approval from the Office of the Comptroller of the Currency (OCC) Friday (June 14) — marking the second and final U.S. regulatory approval it needs for the acquisition...
September 26, 2021
New blood, as they say, shakes things up a bit. But what happens when the shaking up of things rattles the very foundations of financial services and the way banking operates? President Joe Biden late last week nominated Cornell University Law School professor Saule Omarova to lead the Office of the Comptroller of the Currency […]
July 26, 2024
Three federal bank regulatory agencies said Thursday (July 25) that they are considering “additional steps” to ensure banks effectively manage risks associated with bank-FinTech arrangements. The agencies said this as they released a joint statement about banks’ third-party deposit arrangements and issued a request for information on bank-FinTech arrangements. The Board of Governors of the Federal Reserve System, […]
July 21, 2024
A U.S. banking regulator has reportedly determined that many lenders aren’t prepared for risks. As Bloomberg News reported Sunday (July 21), a confidential assessment by the Office of the Comptroller...
July 17, 2024
Political polarization presents a long-term risk to banking, Acting Comptroller of the Currency Michael J. Hsu said Wednesday (July 17). The Office of the Comptroller of the Currency (OCC) has seen a...
July 10, 2024
Banks can help combat fraud targeting consumers by verifying the accuracy of transactions, educating the public, and maintaining strong controls and fraud monitoring capabilities, Acting Comptroller of the Currency Michael...
