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McHenry: Comptroller Otting has Been an Advocate for Modernization

Washington, May 21 -

Today, the top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement after Comptroller of the Currency Joseph Otting announced he will step down from his current position at the OCC:

“Comptroller Otting has made a lasting impact on our nation’s financial system during his time in public service. Joseph has been an advocate for modernization. His support for responsible innovation through financial technology has helped foster new ways to reach unbanked and underbanked Americans. Additionally, his work to reform the outdated Community Reinvestment Act will help ensure long term economic recovery by encouraging more capital, investment, and lending services in the communities hardest hit by COVID-19.

“While Joseph’s expertise will be missed, he will leave the agency in the capable hands of Acting Comptroller Brian Brooks. I look forward to working with him on continuing to find innovative solutions for consumers and financial institutions alike.”