OCC News: Comptroller Dugan Tells OCC Examiners that Agency Will Not Drop Focus on Consumer Compliance


		NR 2008-76

	FOR IMMEDIATE RELEASE July 7, 2008	Contact: Kevin M. Mukri (202) 874-5770

	Comptroller Dugan Tells OCC Examiners that Agency Must Continue to Focus on Consumer Compliance ORLANDO, FL — Comptroller of the Currency John C. Dugan told a meeting of the agency's compliance examiners today that the OCC must continue to focus on consumer compliance while it deals with the credit quality problems that are now confronting the industry. "We simply cannot take our eyes off compliance while we address safety and soundness," he said. "We know how to deal with credit issues, and we will work our way through these very difficult problems. What I don't want, though, is to finish dealing with the industry’s safety and soundness issues only to find that we've allowed significant compliance problems to develop in their place." Related Links: Comptroller of the Currency John C. Dugan (http://www.occ.gov/dugan.htm) Speech to the OCC Compliance Conference (http://www.occ.gov/ftp/release/2008-76a.pdf) # # #

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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 the banking needs of their customers in the best possible manner. OCC press releases and other information are available at http://www.occ.gov. To receive OCC press releases and issuances by email, subscribe at http://www.occ.gov/listserv.htm.