Items Tagged with 'Joseph Otting'

ARTICLES

  • New York sues federal government over fintech bank charter plan

    NYDFS is taking the government to task over decision to offer bank charters to fintech companies
    New York state’s top banking regulator sued the federal government to void its decision to begin offering national bank charters to online lenders and payment companies, saying the decision was unconstitutional and posed a threat to consumers. According to Reuters, Maria Vullo, NYDFS superintendent called the Office of the Comptroller of Currency’s decision to allow fintech companies to obtain bank charters, “lawless, ill-conceived and destabilizing of financial markets.”
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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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  • 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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  • OCC nominee will fight against affordable housing budget cuts

    Otting wants to keep around Neighborhood Reinvestment Corporation
    Affordable housing groups were dealt a terrible hand in President Donald Trump’s budget proposal, with one of the biggest groups, the Neighborhood Reinvestment Corporation, getting cut completely. However, after listening to the Senate Banking Committee’s hearing on Thursday on the nomination of Joseph Otting to serve as the next Comptroller of the Currency, all hope is not lost for the affordable housing group.
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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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  • Trump reportedly considering former OneWest CEO to lead OCC

    Joseph Otting worked closely with Treasury Secretary Steven Mnuchin
    President Donald Trump is “expected to name” Joseph Otting to serve as the Comptroller of the Currency, one of the country’s top financial regulators, per a CNBC report. Otting served as the CEO of OneWest Bank from 2010 until 2015, working alongside Steven Mnuchin, the recently installed Secretary of the Department of the Treasury and the former chairman of OneWest.
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