All OCC articles – Page 9

  • Article

    As Compliance Risks Keep Rising, Banks Keep Rethinking


    A sea change in risk is happening at big banks: Non-financial risks (read: regulatory compliance failures) are now driving the compliance conversation at large firms more than financial risks. “You can have adequate capital, adequate liquidity; but if you have the wrong kind of culture, that is where the problems ...

  • Blog

    OCC's Focus on Credit Risk Includes Auto Loan Concerns


    A side effect of the economic recovery is that credit risk is now "moving to the forefront," says Comptroller of the Currency Thomas Curry. As banks reach for loan growth with less creditworthy borrowers, the resulting risk is prompting increased regulatory scrutiny of auto, home equity, and commercial real ...

  • Blog

    New OCC Task Force on Banking Innovation


    Image: The Office of the Comptroller of the Currency is pulling together a team to consider the regulatory implications of advances in banking technology. “We’re still early in the process, so I can’t tell you exactly where we’ll end up,” OCC director Tom Curry said. He did float the idea ...

  • Article

    How to Simplify Cyber-Security Controls Amid Abundant Laws


    By now every compliance officer has already heard the warning that it’s a matter of when you suffer a cyber-security breach, not if. Then comes compliance with breach disclosure rules—and those demands are becoming as perplexing as the cyber-threat itself. Overwhelmed, compliance officers are seeking ways to navigate these demands ...

  • Blog

    Cyber-Security, AML Deficiencies Flagged in OCC Risk Review


    As banks try to close the profitability gap created by a lingering low-interest rate environment and offer new services to customers, they face escalating compliance risks. Cyber-security and anti-money laundering controls are among the concerns flagged by the Office of the Comptroller of the Currency in its “Semiannual Risk Perspective.” ...

  • Article

    Volcker Compliance Deadline Creeps Up


    Image: For all the political controversy still surrounding the Volcker Rule, its biggest compliance obligation—implementing new controls and training to root out forbidden trading—has a looming deadline in July. “You’ve got to build an infrastructure,” says David Freeman of the law firm Arnold & Porter. “That’s a bigger effort than ...

  • Blog

    Volcker Offers Sweeping New Reform Ideas


    Image: Paul Volcker, the famed former Fed chairman and namesake of the most controversial rule in the Dodd-Frank Act, is proposing a slate of financial reform proposals that would merge the SEC and CFTC and create new regulatory agencies. The Volcker Alliance—a non-partisan, non-profit organization launched in 2013—issued a report ...

  • Blog

    BofA Moves Compliance From Legal to Risk Management


    Image: Bank of America has moved its compliance function out of the legal department and into its risk-management organization, reporting to Chief Risk Officer Geoff Greener (left). The compliance shuffle comes as bank regulators continue to prod financial firms to do a better job of integrating compliance efforts with risk ...

  • Blog

    OCC’s Curry Details Regulatory Relief for Small Banks


    Image: In a recent speech, Comptroller of the Currency Thomas Curry floated some regulatory reforms that could make compliance easier for small- and medium-sized banks, including a new examination cycle for healthy banks. “It’s important that they, like other businesses, have the flexibility to adapt to changing economic and ...