Financial institutions, including banks, often face new challenges when it comes to mitigating risk. And recently, the US Treasury Department's Office of the Comptroller of the Currency (OCC) has identified one new issue with banks and their ability to accurately identify and measure risk. Specifically, the OCC is concerned with the way in which banks handle the risk associated with signature-based transactions and loans, citing a lack of sufficient consumer protection due to weak or non-existent risk-identifying processes. This is an important topic as recent reports have highlighted financial losses stemming from certain banks in the US, including SVB Bank and Signature Bank. As such, the OCC is now looking at new ways to better identify and manage risks associated with signature-based loan transactions. The goal is to create a more comprehensive approach for identifying, understanding, and mitigating risks across multiple banking channels. In this video, we discuss...
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)