Washington Report 360 | October 2, 2020

OCC Banking Supervision Operating Plan; Actions for limited regulatory relief; Joint enforcement initiative: Operation Corrupt Collector

Amy S. Matsuo

Amy S. Matsuo

Regulatory and ESG Insights Leader, KPMG US

+1 919-664-7100

Key Highlights

  • OCC published its FY 2021 Banking Supervision Operating Plan, highlighting a focus on ten key areas including:
    •  credit risk management (including concentrations and allowances)
    • cybersecurity and operational resilience
    • BSA/AML compliance management
    • Compliance risk management with pandemic-related bank activities.
  • Agencies extend temporary measures to continue limited regulatory relief, including rules related to real estate appraisals, regulatory capital, dividend distributions, and intraday credit.
  • CFPB, FTC, and federal and state law enforcement authorities announced a joint enforcement initiative, Operation Corrupt Collector, targeting potential abusive debt collection practices.

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