A rule that was put in place requiring banks to conduct risk assessments for individual customers rather than classes of customers -- such as, conservative charities, political groups, or churches -- has been blocked by the current Office of the Comptroller of the Currency (OCC) and leaves it to be reviewed by the "next confirmed" Comptroller under the Biden administration.
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Federal Government Blocks Rule That Would…
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A rule that was put in place requiring banks to conduct risk assessments for individual customers rather than classes of customers -- such as, conservative charities, political groups, or churches -- has been blocked by the current Office of the Comptroller of the Currency (OCC) and leaves it to be reviewed by the "next confirmed" Comptroller under the Biden administration.