Bank examiners are about to spend some time of their own in the examining chair with the Office of the Currency of the Comptroller rolling out a program that will keep examiners accountable. Per The Wall Street Journal:
The effort comes as the OCC, stung by criticism over its lax oversight leading into the financial crisis and subsequent blunders such as missing J.P. Morgan Chase & Co.'s "London whale" trading losses, tries to turn itself into a tougher, more muscular regulator. The new program will be paired with a separate initiative allowing regulators from Canada, Singapore and Australia—all of which weathered the financial crisis—to perform their own independent evaluations of the OCC.