Comptroller Issues Statement Explaining Vote Against Resolution Plan Feedback for American Express, Reasserts Need for Reforms to Resolution Planning
Why this matters
This is a news release containing a Comptroller statement on resolution planning governance and process reform. The statement expresses dissatisfaction with current resolution plan feedback mechanisms and calls for statutory changes to the $250 billion asset threshold. While not a binding rule or final enforcement action, it represents a significant policy position from a key regulator that could influence future resolution planning requirements and regulatory approach. The content is informational in nature (a speech/statement) but carries concrete regulatory signals about potential reform direction.
AI-generated classification rationale, not a full analysis. Verify with the original OCC source before acting. Full disclaimer.
What the OCC said
Comptroller of the Currency Jonathan V. Gould today issued a statement on his vote against a joint resolution plan letter from the Federal Deposit Insurance Corporation and the Federal Reserve Board to American Express and reaffirmed the need for reforms to Dodd-Frank Act Section 165(d) resolution plans.
Published by OCC . Read the full notice at the source for the authoritative text.
Context
Office of the Comptroller of the Currency (OCC) — Charters and supervises US national banks and federal savings associations. We track 57 updates from them.
US financial regulation is overseen by multiple agencies including the SEC, CFTC, Federal Reserve, OCC and FDIC. Browse all United States updates.
This update is classified under Prudential / Capital Requirements, Senior Managers / Governance and Banking & Credit.