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Violations of Laws or Regulations
Plain English Summary
The Office of the Comptroller of the Currency (OCC) is changing how it handles issues related to violations of laws or regulations. This update will affect financial institutions that receive notices about these violations, known as matters requiring attention (MRAs). The OCC will now have a clearer process for addressing violations without taking enforcement actions or issuing MRAs. Agents should stay informed about these changes as they may impact compliance practices.
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The Office of the Comptroller of the Currency (OCC) proposes to revise the supervisory framework for the issuance of matters requiring attention (MRAs) in response to violations of laws or regulations and for addressing violations for which the OCC does not take an enforcement action or issue an MRA.