Regulatory bodies charged with ensuring financial stability, both domestically and globally, have unveiled their priorities for the year. Many of these should not come as a surprise to those familiar with the most significant matters concerning financial markets over the past year.

The Office of the Comptroller of the Currency (OCC) recently released enforcement actions issued against national banks and federal savings associations and individuals currently and formerly affiliated with banks supervised by the OCC. The actions include cease-and-desist orders against three subsidiary banks and formal agreements with one national bank and one savings and loan institution for unsafe and unsound practices.

The actions involve rate risk management issues at the respective banks, stemming from deficiencies in their investment strategies and/or inadequate capital liquidity, among other issues.

The National Credit Union Administration published its supervisory priorities for 2024. These include credit risk, liquidity risk, interest rate risk, cybersecurity and consumer financial protection, with a focus on overdraft programs, fair lending and auto financing.

Additionally, the agency also indicated plans to increase its activities concerning Bank Secrecy Act compliance and support for small credit unions and minority depository institutions.