- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-06-20T20:20:00
As financial institutions (FIs) mull potential growth opportunities with digital asset and artificial intelligence (AI) tools, one regulator warned against leaving risk and compliance teams out of the loop.
Michael Hsu, acting head of the Treasury Department’s Office of the Comptroller of the Currency (OCC), said in a speech Friday at an American Bankers Association conference that some FIs myopically view risk and compliance considerations as “drags on innovation and profitability.”
Instead of rushing to market, Hsu said FIs should consider a more measured approach, in which risk and compliance considerations are embedded into a product’s development from the start.
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.
2024-05-17T16:57:00Z By Aaron Nicodemus
Federal Reserve Board Governor Michelle Bowman argued banking regulators should move from their current reactive posture on banking innovation to a position that actively encourages new technologies, business models, and ideas to solve age-old problems.
2023-12-07T16:43:00Z By Aaron Nicodemus
New guidance from the Office of the Comptroller of the Currency advises banks to tailor their risk management strategies and lending oversight for “buy now, pay later” plans.
2025-06-26T15:37:00Z By Aaron Nicodemus
Bank examiners at the Federal Reserve Board will no longer assess reputational risk during examinations, a concession to the banking industry already underway with two other U.S. regulators.
2025-05-29T16:07:00Z By Aaron Nicodemus
Corporate governance is, all too often, handed down from generation to generation. Like a well-worn jacket, it works great—until it doesn’t. Typically, it is a crisis that forces companies to reassess their corporate governance framework, as gaps are filled and poor policies rewritten. But it doesn’t have to be that ...
2025-03-10T20:56:00Z By Adrianne Appel
The public reported a 25 percent increase in losses–totaling more than $12.5 billion in 2024–to investment scams, tech rip-offs, and general fraud, according to an analysis by the Federal Trade Commission.
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