Joseph M. Otting was sworn in as the 31st Comptroller of the Currency on November 27, 2017.
He leads an agency of nearly 4,000 men and women who supervises more than 1,200 national banks, federal savings associations, and federal branches and agencies of foreign banks operating in the United States, which hold nearly $13trillion in assets. The mission of the Office of the Comptroller of the Currency (OCC) is to ensure that national banks and federal savings associations operate in a safe and sound manner, provide fair access to financial services, treat customers fairly, and comply with applicable laws and regulations.
Since becoming Comptroller, Mr. Otting has sought to promote economic opportunity and support job growth by seeking to eliminate unnecessary burden on banks and thrifts operating across the country. His priorities have included modernizing the regulations implementing the Community Reinvestment Act, encouraging banks to meet the short-term credit needs of their customers, simplifying regulatory capital and the Volcker Rule, making compliance with the BankSecrecy Act more effective, and ensuring the OCC operates as efficiently as possible.
Prior to becoming Comptroller of the Currency, Mr. Otting was an executive in the banking industry.