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Executive Letter: WBA to Host Free Climate Change Conversation with OCC in March

Rose Oswald PoelsAs bankers in Wisconsin can attest, having the knowledge of, and experience managing, the risks their customers may face is a key component of effectively running a bank. For generations, bankers across the state have assisted their customers in managing various types of risk, including climate-related risks. However, as policymakers, investors, and customers grow concerned about the impacts of climate change, several regulators have signaled forthcoming regulatory action.

With new climate-related financial risk management policies expected from both the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC), many are weary of how these regulations — which claim to only target the largest of banks in the U.S. — will inevitably impact the functions of all banks in our state.

As Jeff Gruetzmacher of Royal Bank so eloquently stated in his article published in the January/February issue of the Wisconsin Banker, “regulators have made their intentions clear: community banks will not get a pass on the new and expensive regulatory burdens.” As such, it is important to keep the WBA membership informed and demonstrate the impact regulations such as these have on banking operations and consumers throughout the state.

I would like to invite all of you to a complimentary, virtual Executive Briefing with Acting Comptroller of the Currency Michael Hsu on March 7 from 3–4 p.m. Central Time. This event is open to all WBA members regardless of which primary federal regulator your bank has. OCC Acting Director Hsu will speak for a few minutes; however, he strongly desires this to be an open conversation for most of the hour with bankers actively asking questions and sharing their thoughts on the subject of climate risk for banks.

This is a unique opportunity to engage with such a high-ranking regulatory official, and I encourage you and others from your bank to attend and actively participate. Wisconsin bankers, particularly ag lenders, already have extensive experience managing climate risk related to their banks’ loan portfolios, and it is important to share these real-life examples and experiences directly with regulators in this format. To register for this valuable opportunity, please click here. Please also share this invitation with others from your bank as more than one person from each institution is welcome to join.

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February 21, 2023/by Hannah Flanders
Tags: Climate Change, Climate Risk Regulations, Education, Executive Letter, OCC
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https://www.wisbank.com/wp-content/uploads/2021/09/Untitled-3_Yellow.jpg 972 1920 Hannah Flanders https://www.wisbank.com/wp-content/uploads/2021/09/Wisconsin-Bankers-Association-logo.svg Hannah Flanders2023-02-21 14:49:092023-02-21 14:49:54Executive Letter: WBA to Host Free Climate Change Conversation with OCC in March
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