On Wednesday, speaking at a meeting of the Exchequer Club — which is a group of senior economic and financial policy professionals headquartered in Washington, D.C. — Acting Comptroller of the Currency Michael Hsu delivered remarks on the topic of safeguarding trust in banking. In the speech, Hsu named reducing inequality, adapting to digitalization, acting on climate change and guarding against complacency as the main priorities of his office. Speaking on the regulatory challenges emerging as a result of digitization of the financial system, the head of the Office of the Comptroller of the Currency (OCC) listed rising cryptocurrency-related and decentralized finance (DeFi) activity among the innovations driving changes in banking, disintermediating it in novel ways.