regulated institutions

OCC, FDIC and CFPB Issue Final Rule on Role of Supervisory Guidance

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On January 19, the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC) and the Consumer Financial Protection Bureau (CFPB) published a final rule regarding the role of supervisory guidance for regulated institutions. The final rule provides that unlike a law or regulation, supervisory guidance does not have the force and effect of law, and that the Agencies will not take enforcement actions or issue supervisory criticisms based on non-compliance with supervisory guidance. The final rule provides that the proper role of supervisory guidance is to outline supervisory expectations and priorities, or articulate views regarding appropriate practices for a given subject area. FDIC Release. OCC Release. Final Rule.

Comptroller of the Currency Discusses Tailoring Supervisory Expectations to the Size and Complexity of Regulated Institutions

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On March 19, the Comptroller of the Currency, Thomas Curry, discussed the Office of the Comptroller of the Currency’s approach to tailoring regulatory and supervisory expectations to the size and complexity of supervised institutions.  His remarks were part of testimony before the U.S. Senate Committee on Banking, Housing, and Urban Affairs.  Release.  Written Testimony.