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OCC’s Quality Assurance Program to Review How Examiners See Complex AML Issues
By Brian Monroe
printA new U.S. Treasury Department strategy to improve bank oversight will entail more closely reviewing how consistently examiners evaluate risk modeling and transaction monitoring programs, say regulators. In a speech last month at an American Bankers Association conference, U.S. Comptroller of the Currency Thomas Curry said that his office will launch a quality assurance (QA) initiative that will enlist regulatory officials from Canada, Singapore and Australia to grade how the agency oversees financial institutions. The agency, known as the OCC, will issue Matters Requiring Attention (MRAs) to examiners. OCC officials will have to comply with the MRAs "no ifs, and...
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