WASHINGTON, April 10 -- Office of the Comptroller of the Currency has issued a rule called: Prohibition on the Use of Reputation Risk by Regulators.
The rule was published in the Federal Register on April 10 by Jonathan V. Gould, Comptroller of the Currency.
Summary: The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation are adopting a final rule to codify the elimination of reputation risk from their supervisory programs. Among other things, the rule prohibits the agencies from criticizing or taking adverse action against an institution on the basis of reputation risk. The rule also prohibits the agencies from requiring, instructing, or encouraging an institution to close an account, to refrain from p...