OCC Plans New Bank Reforms

The Office of the Comptroller of the Currency (OCC) is planning reforms to liquidity risk management, Bank Secrecy Act/anti-money laundering (BSA/AML) compliance, and community bank regulation, according to Comptroller Jonathan V.Gould. He shared these plans in remarks delivered Friday (Dec. 12) at a meeting of the Financial stability Oversight council.

Gould stated these planned reforms will continue the work started this year by the OCC,the Council,and others.

“These actions are a first step, but more is needed to correct regulatory and supervisory decisions made after the 2008 crisis. Those decisions weakened supervision and put the banking system at risk,” Gould said.

Gould highlighted actions the OCC has already taken this year, including removing the 2013 leveraged lending guidance, which he said was questionable legally and blocked many types of loans. He also mentioned changes to the