Articles Tagged with ''Comptroller of the Currency''

Watt out: OCC’s Otting officially takes over as FHFA director

Otting will serve as interim director until Senate votes on Calabria
Mel Watt’s time as the director of the Federal Housing Finance Agency is officially over. Watt became the first Senate-confirmed director of the FHFA back in 2014, and led the FHFA for five years, but his term as FHFA director ended on Jan. 6, 2019. Here's a look back at Watt's time at the FHFA and a look ahead at what's next.
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Trump taps OCC's Otting to replace Watt as FHFA director

Will oversee agency after Watt's term ends in January
President Trump designated Comptroller of the Currency Joseph Otting as the next acting director of the FHFA. Otting will take over the FHFA temporarily until a permanent director is approved by the Senate, and will start his tenure once current Director Mel Watt’s term ends on January 6, 2019.
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Trump administration considering changes to Community Reinvestment Act

OCC invites comments on how to “modernize” CRA regulations
The Trump administration is considering making changes to the Community Reinvestment Act, the federal law that requires banks to meet the credit needs of all communities they serve, including low- and moderate-income neighborhoods. The Office of the Comptroller of the Currency announced Tuesday that it is looking to “modernize” the CRA and wants public comments on how best to do so.
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OCC to begin offering bank charters to nonbank fintech companies

Move already angering state regulators
Tuesday was a big day for fintech companies. In addition to the Department of the Treasury rolling out a series of proposals that could alter the playing field for fintech companies, the Office of the Comptroller of the Currency also announced Tuesday that it will begin offering bank charters to nonbank fintech companies.
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Otting takes over as Comptroller of the Currency, pledges to reduce regulatory “burden”

Former CIT Bank executive replaces acting Comptroller Keith Norieka
President Donald Trump now has another of his handpicked choices leading one of the country’s top banking regulators. Joseph Otting, who the Trump administration nominated back in June, was officially sworn in on Monday as the next Comptroller of the Currency.
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Keith Noreika to step down as Comptroller of the Currency

Following the confirmation vote for Joseph Otting
With former bank executive Joseph Otting soon to be confirmed as Comptroller of the Currency, Acting Comptroller of the Currency Keith Noreika submitted his resignation letter to Secretary of the Treasury Stephen Mnuchin. Noreika may not have been in the position long, but he did manage to make headlines during his time there, most notably for his opposition to the Consumer Financial Protection Bureau’s arbitration rule.
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Trump chooses former OneWest CEO Joseph Otting to lead OCC

Worked closely with Treasury Secretary Steven Mnuchin, who chaired bank
One of the country’s top banking regulators is one giant step closer to having a banker leading it. The Trump administration officially confirmed the rumors on Monday evening, announcing that President Donald Trump intends to nominate Joseph Otting to serve as the next Comptroller of the Currency.
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Comptroller of the Currency Thomas Curry to step down May 5

Keith Noreika named acting comptroller of the currency
Thomas Curry will officially step down as comptroller of the currency on May 5 after more than five years at the helm. Curry completed his five-year term on April 9, and rumors started to spread as early as March on who the possible replacement would be. In the meantime, Keith Noreika will serve as acting comptroller of the currency.
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