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Washington
Inside Washington (06/15/2010)
* WASHINGTON (6/16/10)--If the Office of Thrift Supervision (OTS) and Office of the Comptroller of the Currency (OCC) merge, the thrift charter’s days might be numbered, according to American Banker (June 15). The agencies’ merger--through enactment of the regulatory reform bill--could get rid of some of the benefits associated with choosing the thrift charter, which means a single agency would tasked with enforcing two different sets of rules, the Banker noted. Conferees were expected to address some of the issues about the merger during a session Tuesday. The OTS and OCC already have transition teams, though the House and Senate bills would give the agencies a year to finish the merger, with an extension of six months, if needed. After the merger, the OTS would be gone within 90 days. OCC will then supervise thrifts and the Federal Reserve Board will oversee their holding companies ... * WASHINGTON (6/16/10)--Sen. Tom Carper (D-Del.) and other senators Monday wrote to conferees on regulatory reform legislation, requesting that language in the Senate bill regarding a pre-emption compromise be placed in the final bill (American Banker June 15). Carper’s pre-emption amendment was changed from its original version to allow greater authority for state attorneys general to enforce over national banks. The compromise will provide national banks with “greater certainty and predictability” while strengthening consumer protection, they wrote ... * WASHINGTON (6/16/10)--President Barack Obama has written a letter to House and Senate leaders asking them to approve legislation that would create a $30 billion fund to boost small business lending. The House is expected to tackle the legislation this week, and the Senate is slated to follow suit. Obama also asked Congress to tax financial institutions that benefited from the financial bailout ...


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