By PAUL O’DONOGHUE, Senior Correspondent
U.S. watchdogs OCC (Office of the Comptroller of the Currency) and the FDIC (Federal Deposit Insurance Corporation) have proposed a rule to eliminate ‘reputational risk’ from their supervisory programs.
The proposed rule would also forbid watchdogs from instructing a bank to engage in so-called ‘debanking’, the OCC and FDIC said.
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