OCC Joins Fed Push to Trim Supervisory Red Flags Issued to Banks

The federal regulator overseeing national banks is reviewing confidential warnings it sent to lenders over operational deficiencies to ensure they align with the Trump administration’s focus on “material financial risks.”

Comptroller of the Currency Jonathan Gould, in a Feb. 27 letter to bank CEOs, said his agency is “undertaking a comprehensive review of oustanding matters requiring attention” that haven’t yet triggered an enforcement action.

“The OCC’s review of MRAs will focus on material harm, reasonably expected material risk to the financial condition of the institution, and material risks of loss to the Deposit Insurance Fund,” the letter, obtained by Bloomberg ...