Group of professionals discuss finance

Breaking news and expert analysis on legal and compliance issues

[Back To Home][Back To Archives]

From Banking and Finance Law Daily, November 16, 2017

Otting confirmed as Comptroller of the Currency

By Richard A. Roth, J.D.

The Senate has confirmed the nomination of Joseph Otting as the next Comptroller of the Currency by a 54-43 vote. The vote was almost strictly on party lines, with only two Democrats voting in favor of confirmation. Otting’s term will run for five years.

Otting has worked for a number of regional banks and most recently was managing partner of Ocean Blvd LLC and Lake Blvd LLC. The White House release when his nomination was announced noted that he previously served as President and CEO of OneWest Bank N.A. and as Vice Chairman of U.S. Bancorp. He holds a B.A. from the University of Northern Iowa and is a graduate of the School of Credit and Financial Management at Dartmouth College.

Otting’s nomination was opposed by the Democrats, and some consumer groups, because One West Bank was the subject of a 2011 Office of Thrift Supervision enforcement order arising from its mortgage foreclosure practices. The bank also was fined for defrauding the Federal Housing Administration and was under investigation at the time of the appointment, according to Rep. Maxine Waters (D-Calif).

The new Comptroller will replace Keith Noreika, who has been Acting Comptroller since he replaced Thomas J. Curry on May 5, 2017.

Companies: Lake Blvd LLC ; Ocean Blvd LLC; One West Bank N.A.

MainStory: TopStory DirectorsOfficersEmployers FinancialStability PrudentialRegulation

Back to Top

Banking and Finance Law Daily

Introducing Wolters Kluwer Banking and Finance Law Daily — a daily reporting service created by attorneys, for attorneys — providing same-day coverage of breaking news, court decisions, legislation, and regulatory activity.


A complete daily report of the news that affects your world

  • View full summaries of federal and state court decisions.
  • Access full text of legislative and regulatory developments.
  • Customize your daily email by topic and/or jurisdiction.
  • Search archives for stories of interest.

Not just news — the right news

  • Get expert analysis written by subject matter specialists—created by attorneys for attorneys.
  • Track law firms and organizations in the headlines with our new “Who’s in the News” feature.
  • Promote your firm with our new reprint policy.

24/7 access for a 24/7 world

  • Forward information with special copyright permissions, encouraging collaboration between counsel and colleagues.
  • Save time with mobile apps for your BlackBerry, iPhone, iPad, Android, or Kindle.
  • Access all links from any mobile device without being prompted for user name and password.