OCC Announces Office of Financial Technology

On October 27, 2022, the OCC announced that it will establish an Office of Financial Technology early in the year 2023 to bolster the agency’s expertise and ability to adapt to a rapidly changing banking landscape. The OCC stated that the Office of Financial Technology will build on and incorporate the Office of Innovation, which the OCC established in 2016 to coordinate agency efforts to support responsible financial innovation.

In addition, the OCC announced that the new office will be led by a Chief Financial Technology Officer, who will be a Deputy Comptroller reporting to the Senior Deputy Comptroller for Bank Supervision Policy. The said office will provide strategic leadership, vision, and perspective for the OCC’s financial technology activities and related supervision.

The OCC’s announcement can be found here.

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