- The agency will have fewer of its people stationed in the offices of the largest U.S. banks, instead bringing the workers back to OCC offices where they can develop a broader perspective on what may be happening in the financial system.
- The move comes after Comptroller Thomas Curry - who took the reins in 2012 - brought in external consultants to review the OCC's examination program which failed to sniff out much in the way of systemic risk ahead of the financial crisis.
- This action stands in contrast to that of regulators like the FRBNY (which also whiffed on the financial crisis), which is boosting its on-site presence at banks.
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