OCC Lays Out 2016 Supervision Priorities
The Office of the Comptroller of the Currency (OCC) recently released its Operating Plan for fiscal year 2015. The plan outlines the agency’s supervision priorities for the year ahead. In a statement, Comptroller Thomas Curry said, “Publishing the FY 2016 bank supervision operating plan provides greater transparency around our supervisory priorities, and helps bankers better understand our focus for the next year.”
The plan highlights some noteworthy priorities including fair lending, Bank Secrecy Act (BSA) and Truth in Lending Act (TILA), Real Estate Settlement Procedures Act (RESPA) Integrated Disclosures (TRID) compliance. More generally, the OCC states that it will focus on business model and strategy changes, compliance, credit risk and loan underwriting, cybersecurity and resiliency planning and interest rate risk.
OCC Press Release:
OCC FY2016 Operating Plan: