Anger Growing Over the Office of the Comptroller of the Currency’s Regulation of National Banks
By Daniel Edstrom
DTC Systems, Inc.
Instead of regulating the national banks as they have been mandated, the Office of the Comptroller of the Currency (OCC) appears to actually be promoting the outrageous behavior of the banks. According to various groups, “Right now, more than 500 people are making lots of noise outside the Office of the Comptroller of the Currency – the worst bank regulator that you never heard of. They are demanding that the OCC stop throwing homeowners under the bus in the their tireless efforts to protect the big banks.”
Apparently the OCC does not know that citizens are using the Internet to understand what they are doing. The OCC believes it can stand up against the very people of this country that it was specifically designed to protect – the citizens who are being used as pawns. The people are being taken for a ride by the national banks who are and have been operating outside of their authority for many years (at least 5 years, probably much longer). How can the banks be operating outside of their authority? When they operate against public policy, including when they have inadequate risk measurements in place and inadequate internal controls. This is obvious from their actions over the last 5 years – including the use of robo-signers, flagrant notary violations, inadequate affidavits and declarations, etc., etc. The list goes on and on, but this is nothing new to the OCC. After all, they have given legal opinions based on this very information. They know exactly what is going on but apparently refuse to act – or are completely incompetent. Because they are doing the very opposite of what they have given in their legal opinions, it is apparent that they are not incompetent, but are refusing to enforce their very own regulations. Continue reading “Anger Growing Over the Office of the Comptroller of the Currency’s Regulation of National Banks”