Following the financial crisis, regulators began scrutinizing bank operations with stricter guidelines. But years after the crisis hit, big banks still fall dramatically short in the fundamentals of safe banking.
In a recent examination by the Office of the Comptroller of the Currency, not one of the 19 largest U.S. banks met requirements for internal auditing, risk management or succession planning, according to American Banker.
An editor at American Banker called those results “startling.” We have to agree.
For more on this subject, check out American Banker’s interview with Mike Brosnan, who oversees supervision of the large banks for the OCC.