The OCC issued a final rule defining 'unsafe or unsound practice' and creating uniform standards for Matters Requiring Attention (MRAs). The rule clarifies that reputation risk unrelated to financial condition is excluded.
What changed
Clarified definitions of unsafe or unsound practices and MRAs, limiting their scope to financial conditions.
Compliance perspective
Financial institutions must adjust their risk assessment frameworks to comply with the new definitions and ensure prudent operations.
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