U.S. Bank Regulator Warns Against Overconfidence Following Pandemic

The new leader of the Office of the Comptroller of the Currency (OCC), an independent bureau within the United States Department of the Treasury, has warned against overconfidence in the banking sector, calling for caution.

Michael Hsu, pointed to the recent Archegos Capital fund crisis, which negatively impacted a number of leading banks.

“Archegos I think is a bit of a flag, because I think that is reflective of at least some banks and firms having gotten complacent.”