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OCC Will Revise AML Examinations, Expand List of Compliance Violations
By Brian Orsak and Colby Adams
printThe U.S. Treasury Department's regulator of large banks will revise how it examines for anti-money laundering compliance within months, the agency's chief told a congressional panel Tuesday. Thomas Curry, the head of the Office of the Comptroller of the Currency (OCC), told the Senate Permanent Subcommittee on Investigations that his agency will soon consider Bank Secrecy Act (BSA) compliance a safety and soundness issue, scoring in such a way that it can impact the rate a particular financial institution pays for Federal Deposit Insurance Corp. (FDIC) coverage. Unlike the Federal Reserve, FDIC, and National Credit Union Administration, the OCC doesn't...
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