The Office of the Comptroller of the Currency (OCC) today announced settlements with David Julian, former Chief Auditor at Wells Fargo Bank, N.A. (Bank), and Paul McLinko, former Executive Audit Director at the Bank.
Consumers are increasingly turning to debt settlement companies to assist them with managing their (growing) debt. That means lenders and servicers and debt settlement companies should be collaborating to benefit consumers.
Through collaboration and leveraging technology, lenders and servicers and debt settlement firms can craft tailored plans that cater to consumer needs, leading to better consumer outcomes.
Yesterday, President Donald J. Trump issued an executive order titled “Restoring Equality of Opportunity and Meritocracy.” This order aims to eliminate the use of disparate impact liability in all contexts, emphasizing the importance of treating all citizens equally under the law and promoting a merit-based, colorblind society.
The OCC has removed “reputational risk” from its handbooks and guidance and the FDIC is moving to do the same.
The OCC’s decision supports “the OCC’s mission and its supervisory objectives to ensure that banks have appropriate and strong risk management processes for their business activities, treat customers fairly, and comply with applicable laws and regulations,” the agency said, in announcing the move.
The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in March 2025. There are no administrative hearings scheduled for May 2025.
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