To bank regulator stepping down

Dick Taffe — Fri, 09 Jul 2010 20:40:03 +0000

In a surprise announcement, Comptroller of the Currency John Dugan (r.) says he will step down next month as the top U.S. bank regulator. Appointed by President George Bush, Dugan was instrumental in shaping the “stress tests” for the largest financial institutions, but often sparred with FDIC Chairwoman Sheila Bair about consumer matters. Former Federal Reserve Bank examiner Mark Williams, who teaches finance at the School of Management, say choosing Dugan’s successor is an opportunity for the Obama administration to send a signal that our banks will be held to a higher accountability and scrutiny.

“It is important to not repeat the error of the past and appoint a former lobbyist, as was Dugan, who is banker friendly. As an important industry watchdog, the head of the OCC needs to set the tone that banks will be regulated — not coddled.”

Contact Mark Williams, 617-358-2789, williams@bu.edu

Bernanke: No pressure on BofA/Merrill deal

Dick Taffe — Thu, 25 Jun 2009 14:30:43 +0000

Fed Chairman Bernanke told Congress today the Fed did not threaten action against the Bank of America if last fall’s negotiations leading to BofA’s take over of Merrill Lynch had failed. This amid reports the Fed kept other regulators out of the loop during the merger talks and that regulators secretly tightened their grip on the bank after the government’s bailout of BofA. School of Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law, can discuss the big picture.

Contact Cornelius Hurley, 617-353-5427, ckhurley@bu.edu

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To bank regulator stepping down

Bernanke: No pressure on BofA/Merrill deal