They failed it a very long time ago and will continue to fail.
American Banker-
Think corporate governance at the largest banks is weak? You’re right, but you probably have no idea just how right you are.
The Office of the Comptroller of the Currency recently graded the 19 largest national banks on five factors designed to gauge how well they are being run.
The results are startling.
Not a single bank met the OCC’s requirements for internal auditing, risk management or succession planning. Only two of the 19 banks met the regulator’s requirements for defining the company’s appetite for risk-taking and communicating it across the company. Only two banks were judged to have boards of directors willing to stand up to their CEOs.
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