- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
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.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec.
Register for free
Access one free, non-premium article each month.
Complimentary CPE webcasts, resources, and e-Books.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
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.
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.
The Office of the Comptroller of the Currency proposed eliminating expedited or streamlined reviews of mergers for national banks and federal savings associations.
The Department of Justice’s renewed scrutiny toward a corporation’s approach to the use of personal devices strengthens the case for companies to get away from bring your own device, a panelist at Compliance Week’s 2024 National Conference argued.
Compliance failures in the supply chain are hampering organizations’ efforts to implement environmental, social, and governance initiatives and meet disclosure requirements, according to a new report by U.K. law firm Burges Salmon.
Examiners with the Securities and Exchange Commission found investment advisory firms have generally done well creating processes to comply with the agency’s amended marketing rule but some have fallen short in ensuring compliance.
