On June 13 and 14, 2018, U.S. Comptroller of the Currency Joseph M. Otting discussed the priorities of the OCC before the U.S. House Financial Services Committee and U.S. Senate Committee on Banking, Housing, and Urban Affairs. Comptroller Otting identified the following as his key priorities: modernizing the OCC's approach to the Community Reinvestment Act, encouraging institutions to meet the short-term, small-dollar credit needs of their customers, enhancing Bank Secrecy Act and anti-money laundering compliance, simplifying regulatory capital requirements, simplifying the Volcker Rule and promoting efficacy and efficiency in the supervisory activities of the OCC.
The full text of Comptroller Otting's prepared testimony before the two committees is available at: https://www.occ.treas.gov/news-issuances/congressional-testimony/2018/pub-test-2018-60-written.pdf, https://www.occ.treas.gov/news-issuances/congressional-testimony/2018/pub-test-2018-61-written.pdf and https://www.occ.treas.gov/news-issuances/congressional-testimony/2018/pub-test-2018-61-oral.pdf.
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