The Office of the Comptroller of the Currency (OCC) has issued a request for public comment on a proposal to revise its rules governing the availability of OCC information. The proposed rule aims to strike a new equilibrium between protecting the confidentiality of sensitive supervisory information and promoting transparency to support business operations, public confidence, and agency accountability.
According to the OCC, the planned structural and substantive changes are designed to better safeguard the candid exchange of information between banks and their regulator, which is critical for effective supervision, while allowing disclosure in limited circumstances. Comptroller of the Currency Jonathan V. Gould emphasized that public understanding and confidence in the supervisory process are vital for the financial system and good governance. Comments on the proposal must be submitted within 60 days following its publication in the Federal Register.
