Janet Yellen, Chairwoman of the Board of Governors of the Federal Reserve, recently gave a speech that questioned Wall Street’s ethics and culture – and hinted at an overall approach to regulation that should have compliance officers taking note. To quote Ms. Yellen “…the Fed also promotes safety and soundness by seeking to ensure that […]
Tag Archives: compliance regulation
Learning from the OCC’s Semi-Annual Risk Perspective Report
Last Friday the OCC released its Semi-Annual Risk Perspective report. A key finding of the report is that increased competition among financial institutions has resulted in increased credit risk due to the weakening of underwriting standards as well as the increased layering of risk in credit products such as indirect auto lending. In this environment, […]