OCC

The Office of the Comptroller of the Currency said it would cease its participation in interagency principles for regulating climate-related risks at the banks it regulates. 

Places to work at the 7 Times Square location "will be available on a daily first-come, first-serve basis," the Office of the Comptroller of the Currency told employees who supervise major U.S. banks.

A new Office of External Relations and Strategic Partnerships will continue the work of helping banks develop affordable credit for consumers lacking a credit score using untraditional methods of determining creditworthiness, the agency's acting head said.

Acting Comptroller Rodney Hood discussed using fintech to evaluate self-employed borrowers' creditworthiness, saying alternative credit models could promote financial inclusion.

The OCC will no longer assess reputational risk in bank exams, aligning with President Trump's push to curb debanking, which critics say drove politically motivated account closures.

The financial services industry has made positive gains in consumer trust in recent years. As we enter what seems likely to be an era of deregulation, that newfound trust is theirs to lose.

Without citing examples, acting comptroller Rodney Hood expressed disgust at what he called the "debanking" of certain businesses.

The Office of the Comptroller of the Currency reversed policies on crypto banking, withdrawing its guidance on custody, stablecoin reserves and risk management requirements.

The Office of the Comptroller of the Currency announced Tuesday it had withdrawn from an international body devoted to combatting climate-driven financial risk, saying it fell outside the agency's statutory remit.

A document circulated by the House Ways and Means Committee makes a number of suggestions for cutting federal spending, including revoking the federal tax exemption for credit unions and eliminating the Federal Deposit Insurance Corp.'s orderly liquidation authority.