Risk management

Former Wells Fargo general counsel fined $3.5 million in OCC settlement


The OCC had hit James Strother and other executives with civil charges a year ago in connection with the bank's phony-accounts scandal. His monetary penalty is lower than what the agency had first floated.


OCC’s ‘fair access’ rule could be short-lived under Biden


Issued in the final days of the Trump administration, the regulation has united banks, gun-control advocates and environmentalists in opposition. It could be blocked by Congress or a comptroller chosen by the new president.


OCC finalizes rule punishing banks that cut service to certain sectors


The Office of the Comptroller of the Currency finalized a rulemaking Thursday morning opposed by the industry that forces the largest banks to provide services to gun businesses and other sectors to which banks have curtailed lending.


Deutsche, Signature to stop doing business with Trump and his company


In the wake of last week's riot at the U.S. Capitol, New York-based Signature is also calling on the president to resign before his term ends next week.


Banks pick apart OCC ‘fair access’ plan, but customers praise it


The Office of the Comptroller of the Currency’s proposal to ensure banking services are available to polarizing businesses contradicts long-standing guidance on managing reputational risk, big banks argue. But gun makers, energy firms and others say it would correct an injustice.


Citigroup offers first hint of price tag for risk overhaul


The company’s noninterest expenses are expected to rise more than $500 million next year, largely because of a revamp of risk management and internal controls mandated by regulators.


Share insurance fund reforms can't wait


A number of reasonable changes to the National Credit Union Share Insurance Fund could help NCUA avoid charging premiums.


OCC seeks to bar banks from shunning disfavored industries


Some large banks have come under fire from the GOP for curbing services to firms in controversial industries, such as firearms and fossil fuels. A proposal by the Office of the Comptroller of the Currency aims to block banks from taking such stances.


Synthetic identity fraud risks on the rise for credit unions


New analysis from SentiLink showed that the industry may be more vulnerable to some fraud threats than it realizes.


Banks could be ripe targets for age-bias lawsuits


A former Fifth Third executive recently accused the company of failing to deliver on a promise to make him president because he’s in his mid-50s. The case offers important lessons in hiring and succession planning as the banking industry cuts costs and seeks out younger, digital-savvy managers.