Michael J. Hsu

May 11, 2021 Leadership 0

INFO, BACKGROUND ON MICHAEL J. HSU (Acting Comptroller of the Currency)

BIRTH DATE
POSITION	Acting Comptroller of the Currency (designated Acting Comptroller May 7, 2021, took office May 10, 2021; replaced Blake Paulson as acting comptroller)
EDUCATION	Bachelor of Arts, Brown University; Master of Science, finance, George Washington University; juris doctor, New York University School of Law
EXPERIENCE	Government -- Associate Director in the Division of Supervision and Regulation at the Federal Reserve Board; -- Financial Sector Expert at the International Monetary Fund (IMF); -- Financial Economist at the Treasury Department; -- Staff attorney, Federal Reserve legal division

Report finds sexual harassment at FDIC went on ‘far too long’; board chairman’s role highlighted

May 7, 2024 0

A failure to provide a workplace safe from sexual harassment, discrimination, and other interpersonal misconduct went on “for far too many employees and for far too long,” according to a report issued Tuesday by a special committee of the board [...]
Bureau dings Chime, orders it to pay $4.55 million over untimely account-closure refunds

May 7, 2024 0

The financial-technology (fintech) firm Chime Financial must pay a $3.25 million civil money penalty (CMP) and provide at least $1.3 million in consumer redress for its failure to timely provide consumers their account balance refunds after they closed their accounts, [...]
BSA/AML deficiencies noted in Fed order with MT bank

May 7, 2024 0

First Citizens Bank of Butte, Butte, Mont., is required to bring its operations into compliance with Bank Secrecy Act (BSA) anti-money laundering (AML) rules and regulations under an agreement announced Tuesday by the Federal Reserve Board. In the May 2 [...]
Agencies nudged to act on coordinating identification, tackling of blockchain risks

May 7, 2024 0

Identifying and addressing blockchain risks needs to be addressed by two federal banking regulators, as recommended last year, according to a report issued Tuesday by the congressional watchdog. In separate reports on “open priority recommendations,” the congressional Government Accountability Office [...]
Agencies re-issue proposal on incentive-based compensation; seek more risk-sensitive approach

May 6, 2024 0

Incentive-based compensation arrangements are addressed in a proposal to make those more sensitive to risk was issued – or scheduled to be adopted — Monday by federal banking and credit union regulators, among others. The proposal was first advanced nearly [...]
Banks’ senior loan officers cite tightened standards, weaker demand for C&I, CRE loans in first quarter

May 6, 2024 0

Tightening loan standards and weaker demand were reported for many commercial and consumer loan categories by senior loan officers at large banks participating in the Federal Reserve’s April Senior Loan Office Opinion Survey (SLOOP), according to the report released Monday. [...]
Student loan firms charged with servicing failures, face north of $5 million in fines, redress

May 6, 2024 0

“Multi-year servicing failures” are claimed against two organizations engaged in student lending under action taken Monday by the federal consumer financial protection agency seeking more than $5 million in penalties and redress, the agency said. The National Collegiate Student Loan [...]
Credit union regulator delays board meeting for May by about one week

May 6, 2024 0

A rescheduled meeting – to May 22 – was announced Monday by the federal credit union regulator’s board, changing the date from May 16. The National Credit Union Administration (NCUA) Board gave no reason for the rescheduling. The May 22 [...]

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