OCC chief resigns immediately after finalising controversial regulation

Office of the Comptroller of the Currency

The head of US federal regulator the Office of Comptroller of the Currency, Joseph Otting, has resigned immediately after finalising a controversial regulatory framework for lending in poorer regions.

Despite the OCC unveiling its finished rule, the framework lost its backing from the Federal Deposit Insurance Corporation (FDIC) at the final hour. It had previously been strongly criticised by Democratic senators, the Federal Reserve and other key stakeholders.

The regulation aims to reform the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.