OCC Announces Responsible Innovation Framework and an Innovation Office

The Office of the Comptroller of the Currency (OCC) has announced it will create an Innovation Office with staff in Washington, New York and San Francisco; the new Innovation Office is part of a broader framework for responsible innovation also released this week; the Innovation Office will provide a dedicated staff of government officials focused on innovation affecting federally chartered banks and the banking system; it will also seek to manage the OCC’s framework for responsible innovation for banks and nonbanks.  Source

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Oct. 31, 2016 10:05 am

Smart move by OCC, but seems partly like catchup to other agencies.