Browsing: Derisking

Newsbytes

Sens. Ted Cruz (R-Texas) and Mike Lee (R-Utah) yesterday introduced an ABA-supported bill intended to rein in the Justice Department’s Operation Choke Point, which sought to curtail disfavored businesses by working through regulators to pressure financial institutions to end customer relationships with these businesses.

Newsbytes

The OCC is taking a closer look at how banks make decisions to terminate business or correspondent relationships to avoid regulatory scrutiny—a process known as “de-risking”—and could issue guidance in the future based on its findings, Comptroller of the Currency Thomas Curry said today.