OCC chimes on bank risks in marketplace lending, cyber security and fintech innovation

From: FinExtra

The Office of the Comptroller of the Currency (OCC) reported strategic, credit, operational, and compliance risks remain top concerns in

 Highlights from the report include:

  • Strategic risk remains high as banks struggle to execute their strategic plans and face challenges in growing revenue.
  • Credit risk is increasing because of strong loan growth combined with easing in underwriting standards. An increase in concentrations and risk layering, continues as banks strive for yield in an increasingly competitive environment. This is particularly evident in indirect auto, commercial and industrial, and commercial real estate.
  • Operational risk concerns include increasing cyber threats, reliance on third-party service providers, and resiliency planning.

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7 responses to “OCC chimes on bank risks in marketplace lending, cyber security and fintech innovation”

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