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Rules, Rulings, & ESG – July/August 2021

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OCC WARNS AGAINST RANSOMWARE

The Office of the Comptroller of the Currency issued a Semiannual Risk Perspective for Spring 2021 in May that focused on growing cybersecurity concerns in addition to the credit risks at play due to the financial stress of the pandemic.

The OCC reported that while banks maintained sound capital and liquidity levels, profitability is still under stress due to low interest rates and low loan growth. Credit risk is elevated and transitio…

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