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Office of the Comptroller Of The Currency Announces Hold On Rule To Push Banks To Offer Fairer Access To Services
Summary: The Office of the Comptroller of the Currency (OCC) has announced that it put a hold on formally publishing a rule that seeks to push banks to provide fairer access to services, according to an announcement on Thursday. The announcement stated that pausing publication of the rule will allow the next Comptroller of the Currency to ...
The Office of the Comptroller of the Currency (OCC) has announced that it put a hold on formally publishing a rule that seeks to push banks to provide fairer access to services, according to an announcement on Thursday.
The announcement stated that pausing publication of the rule will allow the next Comptroller of the Currency to review it and take into consideration any public comments the OCC has received. Recent reports suggest that former Treasury Department official Michael Barr, who worked in the Clinton and Obama administrations, may be nominated to lead the U.S. banking regulator.
According to the US banking regulator's statement when the rule was introduced, the OCC's stated position was that "banks should provide access to services, capital, and credit based on the risk assessment of individual customers, rather than broad-based decisions affecting whole categories or classes of customers."
By Emily Mason
Tags: Fair Services,Office of the Comptroller of the Currency
Link: Office of the Comptroller Of The Currency Announces Hold On Rule To Push Banks To Offer Fairer Access To Services [Copy]
