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April 4, 2024
On the web
OCC’s HSU Suggests Requiring Banks, AI Companies to Reimburse Customers for Fraud
ABA Banking Journal
December 12, 2023
On the web
OCC Report Identifies Key Risks Facing Federal Banking System
Banking Exchange
April 22, 2022
On the web
OCC Finds Anchorage Digital Failed to Maintain Proper AML Rules
Coindesk
“The Office of the Comptroller of the Currency (OCC), a federal banking regulator, and Anchorage Digital, a trust company operating with an OCC trust charter, agreed to a consent order Thursday in which the regulator said Anchorage failed to meet Bank Secrecy Act (BSA) requirements for its internal controls. According to the order , in which Anchorage neither admits nor denies the OCC’s findings, Anchorage didn’t have an anti-money laundering/Bank Secrecy Act program that met federal requirements regarding customer due diligence. The company now has 15 days to create a compliance committee where a majority of members aren’t Anchorage employees. That committee will oversee Anchorage’s compliance with the consent order.”
August 6, 2020
On the web
Banking Regulator Fines Capital One $80 Million Over 2019 Hack
Wall Street Journal (paywall)
“A top banking regulator has fined Capital One Financial Corp. $80 million over a 2019 hack that compromised the personal information of about 106 million card customers and applicants. The Office of the Comptroller of the Currency said the bank failed “to establish effective risk assessment processes“ before transferring information-technology operations to the public cloud and “to correct the deficiencies in a timely manner.””
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