PANews reported on September 9th that the U.S. Office of the Comptroller of the Currency ( OCC ) announced it would revise its regulations, removing references to "reputational risk" and requiring nine major regulated banks to disclose their "de-banking" practices. OCC Director Jonathan Gould stated that the move aims to eliminate unfair discrimination against customers based on political or religious beliefs. This follows an executive order signed by the U.S. President directing federal regulators to overhaul relevant regulatory standards.PANews reported on September 9th that the U.S. Office of the Comptroller of the Currency ( OCC ) announced it would revise its regulations, removing references to "reputational risk" and requiring nine major regulated banks to disclose their "de-banking" practices. OCC Director Jonathan Gould stated that the move aims to eliminate unfair discrimination against customers based on political or religious beliefs. This follows an executive order signed by the U.S. President directing federal regulators to overhaul relevant regulatory standards.
The US OCC plans to remove the "reputational risk" clause to curb the "de-banking" behavior of banks
PANews reported on September 9th that the U.S. Office of the Comptroller of the Currency ( OCC ) announced it would revise its regulations, removing references to "reputational risk" and requiring nine major regulated banks to disclose their "de-banking" practices. OCC Director Jonathan Gould stated that the move aims to eliminate unfair discrimination against customers based on political or religious beliefs. This follows an executive order signed by the U.S. President directing federal regulators to overhaul relevant regulatory standards.
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