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OCC's Focus on Credit Risk Includes Auto Loan Concerns

Joe Mont | October 21, 2015

The first time Comptroller of the Currency Thomas Curry delivered a speech at the Exchequer Club—a Washington, D.C.-based association of bankers and industry consultants—back in 2012 his focus was on operational risk, choosing not to dwell on other well-documented aspects of the financial crisis. “The industry was on the mend, credit quality was improving, loan losses were falling, and capital was building to historically high levels. I thought it was time—in fact, I thought it was long past time—to move beyond the issues that were so prominent during the crisis and turn attention to operational and compliance risk,” he said, speaking once again before the group on Wednesday.

While there is no letting up on the OCC’s focus on operational risk, the economic recovery, slow as it may be, means that credit risk is “now moving to the forefront,” Curry said. As banks reach for loan growth with less...

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