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News Release 2008-76
July 7, 2008
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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."
Kevin M. Mukri (202) 874-5770