The Office of the Comptroller released its Semiannual Risk Perspective on July 7. The “Spring 2017” edition of the report details strategic, credit, operational, and compliance risks that are top concerns for the federal banking system.
A key takeaway from the report is that strategic risk remains elevated “as banks make decisions to expand into new products or services or consider new delivery channels and continue merger and acquisition activity.”
Banks face competition from nonfinancial firms, including financial technology companies entering the traditional banking industry. “This competition is causing changes in the way customers and financial institutions approach banking,” the report says.
Credit underwriting standards and practices across commercial and retail portfolios also remain...
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