Office of the Comptroller of the Currency

Guidance and Principles

The Office of the Comptroller of the Currency issues guidance pursuant to multiple sources of statutory authority, such as the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) and the Anti-Money Laundering Act.

Biden Administration (2021-2024)

On October 30, 2023, the Office of the Comptroller of the Currency, the Federal Reserve System, and the Federal Deposit Insurance Corporation finalized interagency guidance “jointly issuing principles that provide a high-level framework for the safe and sound management of exposures to climate-related financial risks (principles).” 88 Fed. Reg. 74,183 (Oct. 30, 2023).

On September 19, 2023, the U.S. Department of the Treasury published the Principles for Net-Zero Financing & Investment (the Principles). The voluntary Principles highlight emerging best practices for private sector financial institutions that have made net-zero commitments and promote consistency and credibility in approaches to implementing them.

On April 10, 2023, the U.S. Department of the Treasury published the 2023 De-risking Strategy pursuant to the Anti-Money Laundering Act of 2020 (AMLA). This fact sheet summarizes key findings and policy recommendations to address the issue of de-risking, which refers to financial institutions terminating or restricting business relationships indiscriminately with broad categories of customers rather than analyzing and managing the specific risks associated with those customers.

On December 16, 2021, the Office of the Comptroller of the Currency (OCC) released draft principles to provide a framework for managing exposure to climate-related financial risks in OCC-regulated institutions with more than $100 billion in total consolidated assets. OCC states that the principles are meant to support banks in their climate risk management efforts. The OCC put out a request for feedback on the draft.

Regulations on Lending

Title III of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) requires the Office of the Comptroller of the Currency to ensure fair access to financial services, including compliance with laws and regulations and fair treatment of customers by financial institutions.

First Trump Administration (2017-2020)

On January 14, 2021, the Office of the Comptroller of the Currency finalized new standards against pledges by major banks to halt investment in the fossil fuel industry. The rule requires banks to provide "fair access" to financial services to companies regardless of industry. The plan appears to targets major financial institutions that have promised not to fund drilling in the Arctic National Wildlife Refuge.