OH-Sen: Brown (D) Leads The Call To Reject Trump Wall Street Corny To Be Comptroller Of Currency

Received this e-mail today from U.S. Senator Sherrod Brown’s (D. OH) re-election campaign:

 

"Trump Picks Former OneWest Chief to Oversee Banks"
-- The New York Times, 6/6/2017

President Trump nominated Joseph Otting, former leader of OneWest, to be the next Comptroller of the Currency.
 

If you've never heard of that title, the Comptroller of the Currency "charters, regulates, and supervises all national banks and federal savings associations as well as federal branches and agencies of foreign banks."
 

In other words: The Office of the Comptroller is a watchdog. And it's here that we run into the problem with Mr. Otting.
 

If the name OneWest rings a bell for you, that's because it's the same lender that now-Treasury Secretary Steven Mnuchin ran. The two men worked together.
 

OneWest engaged in some shady lending practices. During the Great Recession, thousands of OneWest customers lost their homes. It was once described as a "foreclosure machine." In 2011, Mr. Otting signed a consent order with the very agency Trump wants him to run because of those shady practices.
 

Mr. Otting didn't deal fairly with his customers back then. I don't see how we can trust him to look out for the interests of customers at more than 1,400 banks and thrifts across the country.
 

And according to the New York Times, Otting is expected to support rolling back major parts of the Dodd-Frank financial reforms -- the law we passed to protect our economy from risky behavior by banks.
 

Americans need a watchdog as Comptroller of the Currency, not someone who will roll over for Wall Street. Add your name and say "NO" to Joseph Otting.
 

Thank you.
 

Sherrod

Click here to add your name.