Risk management

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

01/15/21

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.

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

01/14/21

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.

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OCC finalizes rule punishing banks that cut service to certain sectors

01/14/21

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.

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

01/12/21

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.

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

01/06/21

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.

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Citigroup offers first hint of price tag for risk overhaul

12/09/20

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.

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Share insurance fund reforms can't wait

12/03/20

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

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OCC seeks to bar banks from shunning disfavored industries

11/20/20

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.

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Synthetic identity fraud risks on the rise for credit unions

11/16/20

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

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Banks could be ripe targets for age-bias lawsuits

11/12/20

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.

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