OCC Approves Itaú Unibanco to Operate US Banking Presence in Miami

The OCC has granted Itaú Unibanco, Latin America's largest bank by assets, regulatory approval to establish a US bank in Miami — a market-structure entry by a major foreign GSIB into the US banking system that signals continued OCC openness to large foreign bank charters and intensifies competition in cross-border Latin American financial corridors.