Comptroller of the Currency John Dugan says he supports many elements of the Administration’s regulatory reform proposal. Dugan: Federal Reserve should not be allowed to override the primary banking supervisor on standards, examination, and enforcement applicable to banks. Dugan sees further regulatory consolidation could bring significant potential benefits, but would carry potential costs as well, especially if the Fed were to be removed from holding company regulation of systemically important firms. The OCC also supports proposals to merge the OTS into the OCC with the phase-out of the thrift charter.”]
Source: https://www.cuinfosecurity.com/regulators-testify-on-reforms-a-1682