By Aaron Nicodemus2024-07-09T14:16:00
The Treasury Department’s Office of the Comptroller of the Currency (OCC) proposed a rule that would extend requirements for recovery plans to all banks with at least $100 billion in assets.
The proposed rule, published July 3 in the Federal Register, would require approximately 19 additional mid-sized banks to create detailed recovery plans to be implemented during times of severe financial stress or failure.
The OCC’s current recovery planning guidelines apply to large banks with more than $250 billion in assets or to banks with less than $250 billion if they are highly complex or present what the agency considers to be heightened risks.
2024-05-29T20:01:00Z By Aaron Nicodemus
Acting Comptroller of the Currency Michael Hsu said he favors requiring more mid-sized U.S. banks to conduct the same rigorous recovery planning as the largest banks, part of a lesson learned from the collapse of three mid-sized banks in 2023.
2024-03-26T19:20:00Z By Aaron Nicodemus
Acting Comptroller of the Currency Michael Hsu argued banks should adopt a “strong sense of fairness” to bolster the effectiveness of their compliance programs, particularly regarding lending decisions guided by AI and machine learning tools.
2023-10-10T14:00:00Z By Aaron Nicodemus
Bank examiners from the Office of the Comptroller of the Currency are focusing their supervision attention on how banks manage risks that brought down three mid-sized financial institutions earlier this year.
2025-09-15T16:47:00Z By Ruth Prickett
You can already buy a coffee with your phone, but soon you could start a job or buy a house with it. Digital compliance wallets holding certificates and documents on smartphones are gaining traction worldwide.
2025-09-10T23:26:00Z By Ruth Prickett
Delays to the U.K.’s Audit Reform and Corporate Governance Bill and creation of the ARGA regulator have sparked criticism. On Sept. 8, 66 MPs sent a letter to the Prime Minister urging reforms be returned to the Parliamentary agenda.
2025-09-08T05:00:00Z By Oscar Gonzalez
The FTC officially withdrew its appeal in a federal court case over its ban on employer noncompete clauses that it passed last year. The agency, however, says it wants public input regarding the effects of employer noncompete agreements.
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