US Bank agency cut off ‘reputational risk’ from tests after the crypto sector mentioned issues
The national banks of the United States have been told by the Comptroller’s office money that they no longer need to answer how controversial customers can break their reputations -a point that crypto companies and insider companies have noted that they have contributed to them to be -Debank.
The OCC removes that factor from the administration of its handbook, the agency said in a statement on Thursday.
“The process of OCC analysis is always rooted in ensuring appropriate risk management processes for bank activities, not casting discretion on how a particular activity can be included in public opinion,” said money comptroller Rodney Hood.
Federal Reserve Chairman Jerome Powell is make a similar promise At a hearing in Congress last month the Fed would cut that category of investigation from the internal manual manuals.
OCC makes motions to ease the compliance path for banks engaged in the crypto business. Recently the previous guide was removed to call for banks to get a pre-approved writing from the agency if they wanted to touch the business lines of digital assets.
The banking regulator may have its permanent leader, along with President Donald Trump’s nominee Jonathan Gould, Facing Senate Confirmation hearing next week. The OCC leader tends to act faster and decisive than other financial regulators, as the person operates as a single authority without a commission or board to seek approval from.
