On December 11, 2023, the OCC issued its annual report to Congress which provides an overview of the condition of the federal banking system. The annual report can be beneficial to compliance professionals as it discusses the OCC's strategic priorities and details agency regulatory and policy initiatives.
The 2023 Annual Report highlights the OCC's efforts to foster and safeguard trust between and among its stakeholders to be able to work together and solve broad problems. OCC’s key priorities in 2023 included:
Guarding against complacency;
Reducing inequality in banking;
Adapting to digitalization; and
Addressing climate-related financial risk.
The OCC annual report can be found here.