This week, Michael Hsu, acting comptroller of the currency at the Office of the Comptroller of the Currency (OCC) called on U.S. financial institutions (FIs) to take steps to serve newly arrived immigrants before they can slip into the ranks of the country’s unbanked. “The OCC encourages...
Michael Hsu, acting comptroller of the currency at the Office of the Comptroller of the Currency (OCC), recently voiced support for a new proposal by Federal Deposit Insurance Corp. (FDIC) to apply additional scrutiny when reviewing bank mergers that will result in combined assets that exceed $100 billion. Hsu on Thursday...
Michael Hsu, CEO and acting comptroller of the currency for the Office of the Comptroller of the Currency (OCC), recently reiterated his agency’s commitment to mitigating any perceived risks in banking — especially those triggered by collaborations with FinTechs. Speaking last week at Vanderbilt University,...
Michael Hsu, the acting comptroller of the currency, emphasized the importance of banks actively managing risks associated with their relationships with FinTech companies. During a Wednesday (Feb. 21) speech at Vanderbilt University, Hsu highlighted the growing number of partnerships between nonbank FinTech companies and banks to...
July 17, 2024
Political polarization presents a long-term risk to banking, Acting Comptroller of the Currency Michael J. Hsu said Wednesday (July 17). The Office of the Comptroller of the Currency (OCC) has seen a risk of fragmentation as it monitors banking law developments at the state and local level, Hsu said in written remarks delivered at the Exchequer Club. “To […]
February 21, 2024
Michael Hsu, the acting comptroller of the currency, emphasized the importance of banks actively managing risks associated with their relationships with FinTech companies. During a Wednesday (Feb. 21) speech at Vanderbilt...
February 11, 2024
American lenders have loaned so-called “shadow banks” more than $1 trillion, and regulators are worried. That’s according to a report Saturday (Feb. 10) by the Financial Times (FT), which cites...
September 07, 2022
Recent events have reinforced the Office of the Comptroller of the Currency (OCC) position that lenders must ask permission before participating in the cryptocurrency industry and must show that such...
