Paul McLinko served as the bank’s executive audit director during its 2016 fake-accounts scandal. He called the penalty “arbitrary, capricious, an abuse of discretion, and otherwise not in accordance ...

On December 3, 2024, the Office of the Comptroller of the Currency (OCC) published an updated UDAAP section of its ...

"The work we've done so far positions us well to implement the requirements of the consent order." Recent enforcement against Bank of America mirrors prior regulatory actions against other ...

The Office of the Comptroller of the Currency said it intends to initiate cease and desist proceedings against Bank of America (BAC) “pursuant ...

The Office of the Comptroller of the Currency issued fines amounting to $18.5 million to three former Wells Fargo executives in response to unsafe sales practices from 2013 to 2016.

The trio had been previously charged by the OCC in 2020, alongside other former senior leadership of the bank, but had opted ...

The OCC’s order “outlines requirements to advance the Bank’s risk and compliance management to the level we and our regulators expect,” a USAA spokesperson said in a statement Thursday.

The OCC said in a press release Monday that the deficiencies ... and correct deficiencies in its customer due diligence (CDD) process. The bank will be required to appoint a compliance committee and ...

The OCC released the “OCC Semiannual Risk Perspective for Fall 2024,” which analyzes key risks facing the federal banking system as of ...

Bank of America, Corp. BAC received a cease-and-desist order on Monday from the Office of the Comptroller of the Currency (“OCC”), addressing ... to implement the requirements of the consent ...

On January 2, the OCC released its CRA performance evaluations that became public during the month of December. The OCC evaluated 16 ...

The Office of the Comptroller of the Currency announced enforcement actions against three former senior executives of Wells Fargo (WFC) Bank, ...