OCC Issues Updated Comptroller's Handbook on Litigation and Other Legal Matters
The Office of the Comptroller of the Currency ("OCC") issued an updated booklet, titled "Litigation and Other Legal Matters." The booklet is part of the Comptroller's Handbook.
The booklet, which replaces one of the same title issued in February 2000, was revised to: (i) provide guidance to examiners in identifying risks directly associated with potential or pending litigation and other related risk factors, (ii) establish supervisory expectations for managing legal risk, and (iii) include expanded examination procedures to assess the quantity of risk and quality of risk management.