Big Banks Flunk OCC Risk Tests
The Office of the Comptroller of the Currency recently graded the 19 largest national banks on five factors designed to gauge how well they are being run.
The results are startling.
Not a single bank met the OCC’s requirements for internal auditing, risk management or succession planning. Only two of the 19 banks met the regulator’s requirements for defining the company’s appetite for risk-taking and communicating it across the company. Only two banks were judged to have boards of directors willing to stand up to their CEOs.
This miserable picture was painted by OCC leaders last month at a closed-door conference for large-bank directors. I obtained a copy of the presentation materials and I asked the OCC to help me understand them.
In an interview Monday, Mike Brosnan, an agency veteran who now leads large-bank supervision, walked me through the progress bankers and examiners alike have made over the last two years. He is confident that the next year will bring marked improvement.
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4closureFraud.org
ya know, every day we read about how the gov is cracking down on big banks, Deutshe bank was just raided by 500 officers lmao…….do they ever do anything but a hand slap ? No…..500 officers should be able to dig up a lot of dirt but they will just blow up some lil dinky insignificant mistemeanor……the gov seems to be playing the game and presenting false hopes as well as an illusion thaat they care about millions of Americans losing their homes to these greedy pigs…..the foreclosures continue…..the bankers laugh at us all including gov as well.