The new Comptroller of the Currency (OCC) -- long seen as the most bank- friendly of U.S. regulators -- is changing course, Bloomberg News reported today. Since Thomas Curry took over the OCC in March, at least two key staff members closely associated with the agency’s pro-industry stance have departed, notably chief counsel Julie Williams. Curry has also raised the profile of consumer protection and shifted focus toward “operational risk” -- the idea that bank practices and management can pose as much of a threat to safety and soundness as external forces. Curry arrived at the Office of the Comptroller of the Currency in March after eight years on the board of the Federal Deposit Insurance Corp, and a number of his recent staff changes have the result of making the OCC look more like the FDIC. Retiring OCC chief of staff John Walsh was replaced by Paul Nash -- a top deputy to former FDIC chairman Sheila Bair who also served on the staff of Sen. Tim Johnson(D-S.D.), who is now Senate Banking Committee chairman. Curry also tapped Ken Kilber, his deputy at the FDIC, who is now detailed to the OCC on a temporary assignment.
