News Release 2012-86 | June 6, 2012
Comptroller of the Currency Testifies on Regulatory Reform and Supervision
WASHINGTON—Comptroller of the Currency Thomas J. Curry today testified before the Committee on Banking, Housing, and Urban Affairs of the U.S. Senate.
His testimony provided an update on the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the supervision of national banks and federal savings associations, and the OCC response to losses by JPMorgan Chase reported in May.
"The Dodd-Frank Act and rulemakings by the OCC and other agencies have done much to strengthen the regulatory framework for our country’s financial institutions. Translating these reforms into improved soundness and fair treatment of customers by individual institutions requires strong, effective supervision," said Comptroller Curry. "I am committed to strong supervision and to taking additional steps to enhance our supervision where necessary. Strong supervision is a theme that will flow through the balance of my testimony and mark my tenure as Comptroller."