Otting takes step closer to head OCC

November 15, 2017 Federal financial regulation, OCC 0

The confirmation of Joseph Otting to become permanent Comptroller of the Currency took a step closer Wednesday with the Senate voting 54-44 toward a final vote on his nomination.

Otting, 58, was nominated by President Donald Trump in June; his confirmation was recommended by the Senate Banking Committee (on a 13-10 vote) in early September.

When confirmed, he will replace Acting Comptroller Keith Noreika, who has been in office since May.

INFO, BACKGROUND ON JOSEPH M. OTTING

BIRTH DATE	1959
POSITION	Comptroller of the Currency (31st) (confirmed by Senate: Nov. 16, 2017)
EDUCATION	B.A., University of Northern Iowa
EXPERIENCE	Government NA Business 2016-2017: Managing partner, Ocean Blvd LLC and Lake Blvd LLC (golf course) Aug.-Dec. 2015: Co-President, CIT Group Inc.; CEO/President of CIT Bank (terminated) 2010-15: President/CEO, board member, OneWest Bank (2011: Signed a consent decree with Office of Thrift Supervision regarding the bank's violations during the 2010 United States foreclosure crisis) 2001-10: U.S. Bank (subsidiary of U.S. Bancorp; Market President/Oregon, Dec. 2001-June 2003; executive vice president, manager of east region commercial banking group, June 2003-April 2005; vice chairman, head of commercial banking, and head of wholesale middle market business, 2005-10) 1986-2001: Union Bank (deputy regional vice president, senior vice president, executive vice president, group head of commercial banking) 1981-86: Bank of America

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