OCC To Establish "Office of Innovation"

The Office of the Comptroller of the Currency ("OCC") will establish an Office of Innovation. The new Office of Innovation will be responsible for (i) establishing an outreach and technical assistance program for banks and nonbanks, (ii) conducting awareness and training programs in order to ensure adequate evaluation and supervision by "well-informed" OCC staff, (iii) encouraging coordination and facilitation, (iv) establishing an innovation research function, and (v) promoting interagency collaboration.