Tougher Big Bank Enforcement Coming, OCC’s Brosnan Warns

U.S. banks should prepare for a high level of enforcement actions, according to Michael Brosnan, who heads large-bank supervision at the Office of the Comptroller of the Currency.

“You’re going to start seeing more enforcement actions, probably more aggressive enforcement actions than we’ve ever seen before in our working life,” Brosnan said today at a conference in New York, adding that the attention will not only come from OCC, but also other regulators and law-enforcement entities. “It’s going to be a less forgiving atmosphere, and I can’t say it any more toned-down than that.”

To contact the reporter on this story: Jesse Hamilton in Washington at jhamilton33@bloomberg.net

To contact the editor responsible for this story: Maura Reynolds at mreynolds34@bloomberg.net

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