“Large banks took a corporate governance test – and failed miserably.
The Office of the Comptroller of the Currency rated the 19 largest national banks on five factors, revealing the scorecards to bank directors at a closed door meeting, according to American Banker magazine, which obtained the results.
Not one met the regulator’s requirements for internal, auditing, risk management or succession planning, American Banker reported. Only two met requirements for defining the bank’s appetite for risk-taking and communicating it across the company. Only two banks have boards of directors willing to stand up to their CEOs….”
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