Why the OCC is creating fintech supervision specialists

Karen Solomon was quoted in American Banker about the OCC and changes in supervision of small to mid-size banks.

Karen stated that the agency’s change is consistent with a broader trend toward specialization at the agency. She said that a specialized deputy comptroller could help communicate between senior leadership at the agency and the examiners who deal directly with banks.

To Karen, “Centralization of a particular type of supervision improves efficiency by making it easier to deploy resources where they are most needed and, at the same time, avoid duplication of effort. Centralization also fosters consistency in the supervision of institutions or companies with similar business models.”

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