Comptroller of the Currency

OCC Head: AI Offers Banks Benefits and Risks as It Is ‘Built to Learn’
OCC Head: AI Offers Banks Benefits and Risks as It Is ‘Built to Learn’
June 16, 2023  |  Artificial Intelligence

For Michael J. Hsu, the acting U.S. Comptroller of the Currency, the potential benefits of using widespread artificial intelligence (AI) in banking “are significant.” But...

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US Lawmakers Debate Dueling Stablecoin Bill Drafts
US Lawmakers Debate Dueling Stablecoin Bill Drafts
May 18, 2023  |  Regulation

U.S. lawmakers faced off Thursday (May 18) over two proposed stablecoin bills. Both bills under consideration would allow both banks and non-banks to issue stablecoins. It was...

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Fed, FinCEN, OCC Urge Banks to Take More Measured Approach to Customer Due Diligence
Fed, FinCEN, OCC Urge Banks to Take More Measured Approach to Customer Due Diligence
July 07, 2022  |  Bank Regulation

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Financial Crimes Enforcement Network (FinCEN), the National Credit Union Administration,...

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OCC’s Hsu: Stablecoins Can Boost Innovation If Regulated Like Banks
OCC’s Hsu: Stablecoins Can Boost Innovation If Regulated Like Banks
January 13, 2022  |  Cryptocurrency

There are a number of ways to read between the lines of the speech about stablecoins Acting Comptroller of the Currency Michael Hsu made at...

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Biden to Name CBDC Advocate Saule Omarova to Lead OCC
Biden to Name CBDC Advocate Saule Omarova to Lead OCC
September 23, 2021  |  Personnel

President Joe Biden has announced that he plans to nominate Saule Omarova for Comptroller of the Currency and Claudia Slacik as Member of the Securities...

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OCC Tells Banks Not To Hide Under The Cover Of COVID
OCC Tells Banks Not To Hide Under The Cover Of COVID
July 13, 2020  |  Bank Regulation

The nation’s banks hoping to use COVID-19 as an excuse to shutter branches or get permanent concessions from regulators better think again, the Financial Times...

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OCC: Banks Face Higher Compliance Risks Due To Pandemic
OCC: Banks Face Higher Compliance Risks Due To Pandemic
July 01, 2020  |  Regulation

The pandemic has heightened risks for pretty much everyone, including U.S. banks. The Office of the Comptroller of the Currency (OCC) said in a report this...

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OCC: Lockdowns Could Challenge Stability Of Banking System
OCC: Lockdowns Could Challenge Stability Of Banking System
June 02, 2020  |  Economy

Brian P. Brooks, Acting Comptroller of the Currency, said in a series of letters that some states’ long-term efforts to curb the coronavirus could lead...

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For Wells Fargo CEO, (A Lot Of) Scrutiny Ahead
For Wells Fargo CEO, (A Lot Of) Scrutiny Ahead
May 21, 2019  |  Bank Regulation

Wells Fargo has been under the proverbial microscope — and now, even more, so will its CEO. The scandal-scarred bank is on the lookout for...

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