This letter to the Office of the Comptroller of the Currency outlines 2 open recommendations to prioritize. For example, OCC should work with other federal banking regulators to communicate appropriate uses of alternative data sources—such as rent or utility payments—in credit underwriting.
In May 2022, GAO identified 1 priority recommendation for the Office of the Comptroller of the Currency (OCC), which was identified in a letter to Treasury.
As of July 2023, OCC had not implemented this priority recommendation and GAO identified 1 additional priority recommendation for OCC, bringing the total number to 2. These recommendations involve the following areas:
- Blockchain technology
- Financial technology
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