Joseph Otting Sworn in as Comptroller of the Currency

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Joseph Otting Sworn in as Comptroller of the Currency The Best Markets For Residential Property Investors 2 days ago November 27, 2017 1,853 Views in Daily Dose, Featured, Government, Journal, News David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] Previous: Mulvaney Implements 30-Day Hiring & Reg Freeze Amidst Controversy Next: Going Up: Residential Home Sales Tagged with: Comptroller of the Currency Joseph Otting OCC Office of the Comptroller of the Currency Share Save About Author: David Wharton The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Comptroller of the Currency Joseph Otting OCC Office of the Comptroller of the Currency 2017-11-27 David Wharton Demand Propels Home Prices Upward 2 days ago Joseph M. Otting officially became the 31st Comptroller of the Currency on Tuesday afternoon, November 27, 2017. Otting was sworn in by  Secretary of the Treasury Steven Mnuchin at the U.S. Department of the Treasury, following a successful confirmation vote by the United States Senate on November 16. That vote broke down mostly along party lines, with the final tally sitting at 54-43. President Trump nominated Otting for the role on June 5, 2017.Otting has been a key ally of Treasury Secretary Mnuchin, previously serving as chief executive of Pasadena’s OneWest Bank, which Mnuchin founded in March 2009. Prior to that, Otting spent more than 30 years as banker, including time working for Union Bank and U.S. Bank. As Comptroller, Otting will be charged with writing overseeing new banking regulations and generally monitoring and maintaining the health of the American banking system. This will likely include working toward the administration’s goals of decreasing regulation, including attempts to roll back Dodd-Frank. He will also likely continue the review of the Volcker rule—which restricts U.S. banks from certain speculative investments—initiated by his interim predecessor, Keith Noreika, who became acting Comptroller in May 2017, following the resignation of former Comptroller Thomas J. Curry.In his official statement, Otting vowed to work to ensure that “our country has the most effective and respected banking system in the world.” Citing his own years spent as a career banker, Otting highlighted the importance of effective supervision, but added that “I also know the challenges bankers face as they work to meet customer needs while coping with unnecessary regulatory burden that makes it more difficult and complicated than necessary.”Otting’s stated goals from the statement include “enhancing the value of national bank and federal savings association charters, reducing unnecessary burden, and promoting economic opportunity while maintaining the safety and soundness of the federal banking system.” He also emphasized a focus on “an open and inclusive process that seeks the voices of all of the stakeholders of the federal banking system.” Home / Daily Dose / Joseph Otting Sworn in as Comptroller of the Currency Related Articles Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

Mali peace deal to be implemented despite challenges

first_imgAn attack mid this week in Mali, where six UN peacekeeping soldiers were killed, has given a pointer to the kind of difficulties likely to be encountered in implementing a peace deal signed recently.Northern Mali is considered the deadliest region for UN soldiers, 35 of them have been killed in combat since 2013. Will S.Sudan peace deal be implemented? Related Many in Northern Mali are skeptical about peace deal Mali Peace Deal: Peace Deal Raises Hopes of Stability.last_img