Comptroller Gould’s Rule Changes: A Smoke Screen for Bank Criminality?

WASHINGTON D.C. – While the Office of the Comptroller of the Currency (OCC), led by Comptroller Gould, publicly touts “modernizing” the regulatory capital framework, Grimy Times questions whether these proposed rule changes are a thinly veiled attempt to loosen oversight and further enable criminal activity within the banking system. The OCC released a statement this week detailing Notices of Proposed Rulemakings, framed as improvements to the framework. But sources within the Department of Justice whisper a different story: that these changes are being pushed by the very banks looking to avoid scrutiny.

The OCC’s announcement, buried within a labyrinthine section of their website, speaks of streamlining regulations and reducing burdens on national banks and federal savings associations. Specifically, the proposed rules aim to alter how banks calculate risk-weighted assets, potentially allowing them to hold less capital against certain exposures. This, in theory, frees up capital for lending. But what it actually frees up is room for manipulation and increased risk – risks that are ultimately borne by taxpayers when banks inevitably fail or require bailouts.

Grimy Times has long documented the rampant financial crimes facilitated by lax bank oversight. From money laundering operations for drug cartels to complex schemes designed to evade sanctions, banks have repeatedly proven they cannot police themselves. The OCC’s proposed rules appear to double down on this failed approach, shifting the burden of responsibility even further away from regulators and onto the institutions themselves. This is akin to letting the wolves guard the henhouse. We’ve seen this playbook before. Remember the Savings and Loan crisis? The 2008 financial meltdown? The pattern is clear: deregulation, followed by disaster.

Critics point to the language in the proposed rulemakings as intentionally vague and open to interpretation. This ambiguity allows banks to exploit loopholes and engage in questionable practices without fear of immediate reprisal. One former OCC examiner, speaking on condition of anonymity, told Grimy Times, “They’re creating a system where banks can essentially define their own rules. It’s a disaster waiting to happen.” The examiner also expressed concern that the proposed changes would make it more difficult to prosecute financial crimes, as banks could argue they were operating within the bounds of the new regulations – even if their actions were clearly unethical or illegal.

Comptroller Gould’s statement emphasizes “innovation” and “competitiveness.” But innovation shouldn’t come at the expense of public safety. Competitiveness shouldn’t mean a race to the bottom in terms of regulatory standards. Grimy Times will continue to investigate these proposed rule changes and expose any attempts to undermine financial stability and protect criminal enterprises. The OCC’s website is a maze of jargon and bureaucratic doublespeak, but the underlying message is clear: the banks are getting what they want, and the American public is likely to pay the price.

The full text of the Notice of Proposed Rulemakings can be found on the OCC website (occ.gov), though navigating the site is a challenge in itself. Grimy Times urges readers to demand transparency and accountability from their elected officials and regulatory agencies. The future of our financial system – and the safety of our communities – may depend on it.