Comptroller of the Currency John Dugan, a top bank regulator, to depart Aug. 14 when term ends
By Daniel Wagner, APThursday, July 8, 2010
Key bank regulator Dugan will resign next month
WASHINGTON — A top banking regulator says he will leave office when his term expires next month.
Comptroller of the Currency John Dugan says in a letter to President Barack Obama Thursday that he will depart the job on Aug. 14. In the letter, Dugan praises his office’s work in responding to the financial crisis.
The Office of the Comptroller of the Currency oversees national banks and U.S. divisions of foreign banks. It regulates the largest Wall Street retail banks, as well as 1,500 smaller institutions. Banks overseen by the OCC control more than half the banking assets in the industry.
During the crisis, the OCC helped run “stress tests” on the largest banks to see if they could survive a deeper recession.
Dugan was appointed by President George W. Bush in 2005.
Tags: Barack Obama, Government Regulations, Industry Regulation, North America, United States, Washington
