WASHINGTON John C.
Dugan assumed office today as the 29th Comptroller of the Currency,
following Senate confirmation on July 29, 2005.
I want to express my
sincere appreciation to President Bush, Secretary Snow, and the United States
Senate for the confidence they have shown in me and for giving me this
opportunity to serve my country as Comptroller of the Currency, said Mr.
Dugan. The OCC has a proud history,
and it is an honor to join the men and women who have made the OCC the great
regulatory agency that it is today.
Comptroller Dugan has
served in a wide variety of positions in both government and the private
sector. Most recently, he was a partner
at the law firm of Covington & Burling, where he was coordinator of the firms
Financial Institutions Group, specializing in financial institution
regulation. He served as Assistant
Secretary of the Treasury for Domestic Finance during the Administration of
President George H.W. Bush. Before joining Treasury, he was Minority General
Counsel to the Senate Committee on Banking, Housing, and Urban Affairs.
Mr. Dugan has
testified, written, and spoken frequently on financial services issues before
Congress and state legislatures, as well as at bank industry conferences, and
has written widely on bank regulatory issues.
Among his professional
and volunteer activities prior to becoming Comptroller, he served as a director
of Minbanc, a charitable organization whose
mission is to enhance professional and educational opportunities for minorities
in the banking industry. He is also a member of the American Bar
Associations committee on banking law, the Federal Bar Associations section
of financial institutions and the economy, and the District of Columbia Bar
Associations section of corporations, finance, and securities laws.
He graduated from the
University of Michigan in 1977 with an A.B. in English Literature and earned
his J.D. in 1981 from Harvard Law School.
He is married to Elizabeth Dugan, has two children, and lives in Chevy
Chase, MD.
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The Office of the
Comptroller of the Currency was created by Congress to charter national banks,
to oversee a nationwide system of banking institutions, and to assure that
national banks are safe and sound, competitive and profitable, and capable of
serving in the best possible manner the banking needs of their customers.