Bank regulators are “approaching crypto activities very carefully and with a high degree of caution,” Acting Comptroller of the Currency Michael Hsu said today at an industry event, adding that “we expect banks to do the same.”
Acting Comptroller of the Currency Michael Hsu today warned that the “rebundling of banking services by fintechs and the fragmented supervision of universal crypto firms pose significant medium- to long-term risks to consumers, businesses and financial stability.”
Acting Comptroller of the Currency Michael Hsu signaled that his agency is working to develop “high-level climate risk management supervisory expectations for large banks” and that he expects to issue framework guidance for comment “by the end of the year.”
Sen. John Tester (D-Mont.) this week expressed hesitation about the Biden administration’s nominee, Saule Omarova, to serve as the next comptroller of the currency.
ABA provided detailed feedback on interagency third-party risk management guidance proposed by the Federal Reserve, FDIC and OCC.
In remarks at ABA’s Annual Convention in Tampa today, ABA President and CEO Rob Nichols…
The share of current and performing first-lien mortgages in the second quarter of 2021 was 95%, up from 91.1% a year ago, the first full quarter of the COVID-19 pandemic, according to the Mortgage Metrics Report released by the OCC today.
President Biden yesterday announced that he will nominate Saule Omarova to serve as comptroller of the currency.
In remarks at an industry event today, Acting Comptroller of the Currency Michael Hsu called for coordination between regulatory agencies to address the significant changes that are taking place in the banking industry, particularly those related technology, payments and the rise of cryptocurrencies and decentralized finance.