OCC Head Dugan to Leave Next Month
Comptroller of the Currency John Dugan announced today he will leave office when his term expires on Aug. 14.
Dugan, who was appointed to the post by President Bush, runs the office within the Treasury Department empowered to regulate national banks and the U.S. divisions of foreign banks.
Under the regulatory overhaul bill currently pending in Congress, the Office of the Comptroller of the Currency will have additional powers as it will also regulate thrift institutions, which are currently overseen by the Office of Thrift Supervision.
Dugan practiced law in Washington, D.C. representing large financial institutions before being named to his current position.