WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today discussed the Office of the Comptroller of the Currency’s (OCC) approach to open banking in remarks at FDX Global Summit Spring 2023 in Raleigh, N.C.
In his remarks, the Acting Comptroller highlighted the evolution of open banking and its potential impact on the OCC’s supervision in the context of liquidity, operational, third-party, and compliance risks. He also discussed the importance of data, and the relationship of banking and commerce, in the development of open banking to build trust among consumers and the public.