In recent remarks delivered at the U.S. Chamber of Commerce Capital Markets Summit, Acting Comptroller of the Currency, Rodney E. Hood, outlined the OCC’s strategic priorities for building a resilient and revitalized federal banking system. Addressing an audience that included leaders from across the financial and business sectors, Acting Comptroller Hood emphasized the importance of innovation, inclusion, and regulatory modernization in ensuring long-term U.S. economic strength.
He also described four strategic priorities to guide the OCC’s approach:
- Accelerating Bank-Fintech Partnerships. The OCC continues to champion responsible innovation through its Office of Financial Technology. Tools such as regulatory sandboxes and “TechSprints” help banks safely test and launch new solutions. Recent approvals, including a national bank’s transition into a tech-driven small business lender, exemplify the OCC’s support for modernizing financial services.
- Expanding Responsible Engagement with Digital Assets. The OCC views digital assets are as a permanent feature of the financial landscape, with over 50 million Americans already engaged. In March, the OCC issued an interpretative letter eliminating prior approval requirements for banks engaging in digital asset activities, provided they demonstrate strong risk management. The OCC is also studying emerging technologies like AI and quantum computing, and recently issued a Request for Information to address barriers community banks face in adopting digital tools.
- Advancing Financial Inclusion as an Economic Imperative. The OCC regards financial inclusion as both a moral and economic necessity. The OCC launched Project REACh (Roundtable for Economic Access and Change) to bring together public and private leaders to address systemic gaps in access to financial services, with a focus on affordable housing, small business credit, and support for minority depository institutions.
- Modernizing Regulation to Unleash Growth. The OCC is committed to effective, but not excessive, regulation, with a focus on tailoring oversight based on each bank’s risk profile. The OCC is actively participating in the decennial Economic Growth and Regulatory Paperwork Reduction Act review to eliminate outdated or duplicative rules. Recent reforms include: withdrawing proposed climate risk guidance for large banks; ceasing “reputation risk” exams to reinforce banks’ autonomy; advocating for balanced capital standards that promote resilience without constraining growth; and streamlining bank merger procedures for well-managed institutions.
Acting Comptroller Hood concluded his remarks by emphasizing the need for a strong, unified financial system and reiterating the OCC’s commitment to fostering a regulatory environment that supports both stability and forward-looking growth. “We are creating a regulatory environment [at the OCC] where American banks can lead the world in innovation, inclusion, and investment—while maintaining the prudence that has long been our competitive advantage.”
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