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    Country music star apologizes after drunken show ends with cops taking him down: ‘I’m not OK’ – PennLive.com

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US regulator privately finds weak risk-management at half of large banks, Bloomberg reports

July 21, 2024
in Business
US regulator privately finds weak risk-management at half of large banks, Bloomberg reports
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(Reuters) – A top U.S. bank regulator’s confidential assessments found 11 of the 22 large banks it supervises have “insufficient” or “weak” management of a broad swath of risks ranging from cyberattacks to employee blunders, Bloomberg News reported on Sunday.

About one-third of the banks secured ratings of 3 or below on a 5-point scale for their overall management of risk in confidential assessments by the Office of the Comptroller of the Currency, the report said.

The OCC did not immediately respond to a Reuters request for comment.

© Reuters. FILE PHOTO: The New York skyline is pictured from a park in Hoboken, New Jersey, U.S. June 23, 2024. REUTERS/Agustin Marcarian/File Photo

The OCC told Bloomberg in a statement that Acting Comptroller Michael Hsu has “consistently discussed the need for banks to guard against complacency and actively manage their risks in order to build and maintain trust in the federal banking system.”

The report follows an hours-long global computer systems outage impacting services from airlines to healthcare, shipping and finance, two days ago.

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Copyright for syndicated content belongs to the linked Source : Investing.com – https://www.investing.com/news/economy-news/us-regulator-privately-finds-weak-riskmanagement-at-half-of-large-banks-bloomberg-reports-3528037

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