Big Banks Flunk Office of Comptroller of Currency Risk Tests

December 13, 2012

Banking & Finance

Te Office of the Comptroller of the Currency recently graded the 19 largest national banks on five factors designed to gauge how well they are being run.

 

The results are startling, BankInvestmentConsultant.com reports.

 

Not a single bank met the OCC’s requirements for internal auditing, risk management or succession planning. Only two of the 19 banks met the regulator’s requirements for defining the company’s appetite for risk-taking and communicating it across the company. Only two banks were judged to have boards of directors willing to stand up to their CEOs.

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