OCC will target ‘persistent weaknesses’ in US banks

Office of the Comptroller of the Currency
Radharc Images/Alamy Stock Photo

The Office of the Comptroller of the Currency has said it will take a more pro-active approach in addressing “persistent weaknesses” in US banks it oversees.

The OCC published a revised version of its banking supervision manual on May 25, replacing a 2018 edition.

The manual includes a new appendix on banks with “persistent weaknesses” – the definition of which is where a bank is seen to have incurred multiple negative evaluations or penalties over three years, or been non-compliant with OCC

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