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US Comptroller revises enforcement manual to target banks with ‘persistent issues’

Acting Comptroller of the Currency, Michael J. Hsu
Acting Comptroller of the Currency, Michael J Hsu. Photo: OCC

Julie DiMauro

2 min read
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“A bank’s inability to correct persistent weaknesses will result in proportionate, fair and appropriate consequences,” Michael Hsu warned.

Large US banks found to have consistently poor risk management and other failings will face more hard-hitting government intervention, including demands to shore up their capital or exit certain lines of business.

On Thursday, Acting Comptroller of the Currency Michael J Hsu said his agency, the Office of the Comptroller

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