OCC to Revise Regulations, Remove 'Reputation Risk' Language

According to PANews, the U.S. Office of the Comptroller of the Currency (OCC) has announced plans to amend its regulatory guidelines by removing references to 'reputation risk.' The OCC is also requiring nine major regulated banks to disclose their 'de-banking' practices. Jonathan Gould, head of the OCC, stated that the initiative aims to prevent improper discrimination against customers based on political or religious beliefs. This move follows an executive order signed by U.S. President Donald Trump, directing federal regulatory agencies to streamline related regulatory standards.