WASHINGTON John D. Hawke, Jr., the 28th
Comptroller of the Currency, advised President Bush today that he would retire
from government when his term of office expires on October 13.
In his letter, the Comptroller called the OCC one of the
truly great agencies of the United States Government, and said the agency performs its critically important role of
overseeing the safety and soundness of the national banking system and
safeguarding the interests of bank customers with great skill and diligence.
I am pleased to report as I take my leave that the system
is in extremely healthy condition and the national bank charter is strong and
vibrant, Mr. Hawke added. Mr. Hawke
has served nearly six years as Comptroller and his term has spanned two presidential
administrations.
Mr. Hawke said in his letter to the President that the OCC
has been innovative and resourceful in addressing the challenges of an
increasingly complex banking system.
We have pioneered the integration of economic and quantitative
analysis into the supervisory process; and we have constructed early-warning
tools that enable us to focus our resources on those institutions that present
the greatest risks, Mr. Hawke said.
In the international arena, we have played a strong and effective role
in the work of the Basel Committee on Banking Supervision devoted to the
formulation of a new capital regime for internationally active banks.
In the area of consumer protection, the OCCs record of
accomplishment is unsurpassed by any other bank supervisory agency, federal or
state, he said.
We have taken strong and effective enforcement actions
against consumer abuses, resulting in restitution payments of hundreds of
millions of dollars, he noted, adding that the OCC has also acted to ensure
that national banks do not become involved in predatory lending or help payday
lenders facilitate the avoidance of state laws. During his term of office, Mr. Hawke said, the OCC broke new
ground in developing an approach to combating unfair and deceptive practices by
banks.
The Comptroller had strong words of praise for the men and
women who work for the OCC,
calling them the most talented and dedicated people I have
encountered in almost 17 years of government service.
Mr. Hawke was appointed Comptroller on December 8, 1998 and
was confirmed by the Senate for a full five-year term in October1999. Prior to
his appointment as Comptroller, Mr. Hawke served as Under Secretary of the
Treasury for Domestic Finance.
Previously, he served as Chairman of Arnold & Porter, a Washington
law firm that he first joined as an associate in 1962. In 1975, he left the firm to serve as
General Counsel to the Board of Governors of the Federal Reserve System,
returning to the firm in 1978.
A graduate of Yale University, Mr. Hawke served in the U.S.
Air Force and went on to graduate from Columbia University School of Law, where
he was Editor-in-Chief of the Columbia Law Review. Mr. Hawke was a law clerk
for Judge E. Barrett Prettyman on the United States Court of Appeals for the
District of Columbia Circuit. From 1961
to 1962, he served as counsel to the Select Subcommittee on Education in the
House of Representatives.
The Comptrollers letters to President Bush and to Treasury
Secretary John W. Snow are attached.
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The OCC charters, regulates and examines approximately
2,000 national banks and 51 federal branches of foreign banks in the U.S.,
accounting for more than 56 percent of the nations banking assets. Its mission
is to ensure a safe and sound and competitive national banking system that
supports the citizens, communities and economy of the United States.