By
Aaron Nicodemus2024-03-13T19:47:00
The acting head of the Treasury Department’s Office of the Comptroller of the Currency (OCC) said federal banking agencies are considering enhancements to their operational resiliency requirements for member banks.
In a speech delivered Tuesday at an industry event, Acting Comptroller of the Currency Michael Hsu said federal banking agencies will take steps to strengthen the operational resiliency of the country’s critical financial infrastructure.
U.S. agencies referred to by Hsu as considering operational resiliency framework enhancements included the OCC, the Federal Reserve Board, and the Federal Deposit Insurance Corporation.
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.
2024-03-12T20:59:00Z By Jeff Dale
Economic data and research firm Argus Information and Advisory Services agreed to pay $37 million to settle charges from the Department of Justice alleging misuse of data obtained through federal regulatory contracts.
2024-01-30T20:39:00Z By Aaron Nicodemus
The Office of the Comptroller of the Currency proposed eliminating expedited or streamlined reviews of mergers for national banks and federal savings associations.
2025-11-20T21:55:00Z By Ruth Prickett
Geopolitical instability and a general focus on increasing growth and productivity by governments worldwide are causing a slew of regulatory changes in the financial services sector. But most firms are failing to identify potential compliance changes early enough to make meaningful decisions.
2025-11-05T20:28:00Z By Ruth Prickett
Insurance firms are warning that AI-washing could trigger a slew of cases against directors, and are adjusting their directors’ and officers’ liability premiums accordingly. With regulators cracking down on AI-washing, compliance could be a crucial line of defense and save companies on their insurance costs.
2025-10-24T18:57:00Z By Ruth Prickett
“Hallucinatory” citations and errors in an AI-assisted report produced by Deloitte for the Australian government should be a wake-up call for compliance officers about the risks of placing too much trust in AI.
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