Regulator Sets Heightened Expectations For Big Banks; Calls for Tougher Oversight

A banking regulator is calling on the boards of big banks to toughen their oversight of risk-taking, with the threat of an enforceable order for lenders found not to have complied with the heightened expectations.

The Office of the Comptroller of the Currency released a proposal setting forth new standards based on those expectations that the agency developed following the financial crisis to strengthen the governance and risk management practices of large national banks and federal savings associations. The announcement comes as regulators navigate a bumpy road implementing the Volcker rule, a set of trading and fund ownership restrictions for ...