OCC's updated civil money penalty policy turns the screws on big banks

Nikhil Gore was quoted in American Banker about the OCC's revision of its policy for civil monetary penalties, expanding the agency's discretion to levy fines and its ability to impose restrictions to culpable lenders' business activities.

Though the new rules more explicitly correlate penalty amounts with bank size, Nikhil said that the OCC has effectively been taking size into account for some time.

"The CMP matrix has not always been a reliable guide to OCC penalty amounts," Gore said.

"Certain of the increased penalty ranges may be intended in part to align the manual to recent OCC practice."

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