Enforcement – Federal Financial Analytics

30 05, 2023

FedFin on: Enforcement Policy

Arezou Rafikian2023-05-30T17:09:49-04:00May 30th, 2023|The Vault|

Following a speech earlier this year by the Acting Comptroller arguing that some banks are “too big to manage” and the furor caused by recent failures, the OCC has significantly revised its enforcement policy. The new framework requires examiners promptly to intervene if any of a bank’s CAMELS scores slips to 3 for unsatisfactory or if the bank is what CFPB Director Chopra would call a “repeat offender” of law, rule, or express supervisory actions or found deficient in practices necessary to ensuring safety and soundness.

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SUPERVISION2

William Cross2023-05-30T16:54:05-04:00May 30th, 2023|1- Financial Services Management|

Enforcement Policy

Following a speech earlier this year by the Acting Comptroller arguing that some banks are “too big to manage” and the furor caused by recent failures, the OCC has significantly revised its enforcement policy. The new framework requires examiners promptly to intervene if any of a bank’s CAMELS scores slips to 3 for unsatisfactory or if the bank is what CFPB Director Chopra would call a “repeat offender” of law, rule, or express supervisory actions or found deficient in practices necessary to ensuring safety and soundness.

SUPERVISION2.pdf…

DAILY052523

Max Camateros-Mann2023-05-25T17:44:03-04:00May 25th, 2023|2- Daily Briefing|

Gensler Calls On Banking Regulators To Tighten Short-Term, Collective Fund Rules

In remarks today, SEC Chairman Gensler announced that the SEC is in talks with bank regulators to close what he believes are regulatory gaps in short-term and collective-investment funds governed by the banking agencies, not the SEC.

HFSC Reports Transparency, LLPA Bills

After the lengthy debate and Democratic amendments we described yesterday at yesterday’s HFSC markup, the committee late last night reported both Rep. Barr’s (R-KY) regulatory transparency bill and Rep. Davidson’s (R-OH) LLPA rescission bill on strictly party lines by votes of 26-22.

OCC Redesigns Liquidity-Risk Framework to Capture Recent High-Impact Developments

In conjunction with a tough new enforcement policy (see forthcoming FedFin analysis), the OCC today updated the liquidity section of its examination Handbook to gather the data the agency believes essential in light of recent history.

OCC Targets Poor CAMELS, Repeat-Offender Banks With New PCA Framework

In conjunction with a new liquidity manual designed to position examiners to address recent risks (e.g., social-media runs, FHLB funding), the agency today issued a touch new enforcement policy.

House Judiciary Leadership Accuses BofA of Politically-Inspired Data Breaches

Bringing banks into the GOP campaign against “weaponizing” domestic activities, House Judiciary Chairman Jordan (R-OH) and Antitrust Subcommittee Chairman Massie (R-KY) today sent a letter to Bank of America’s CEO alleging that the bank voluntarily provided the FBI with sensitive transaction information related to the violent protests during January 6^th without any legal process.

DAILY052523.pdf…