Inner City Press

In Other Media-eg New Statesman, AJE, FP, Georgia, NYTAzerbaijan, CSM Click here to contact us     .

These reports are usually available through Google News and on Lexis-Nexis

Share |   

Follow on TWITTER

Home -

These reports are usually available through Google News and on Lexis-Nexis


(FP Twitterati 100, 2013)

ICP on YouTube

More: InnerCityPro
Sept 24, 2013

UN: Sri Lanka


FOIA Finds  

Google, Asked at UN About Censorship, Moved to Censor the Questioner, Sources Say, Blaming UN - Update - Editorial

Support this work by buying this book

Click on cover for secure site orders

also includes "Toxic Credit in the Global Inner City"




Bank Beat

Freedom of Information

How to Contact Us

On Day Otting Out of OCC Legacy of Contempt For CRA Public Process and FOIA Brooks Next

By Matthew Russell Lee, Patreon
BBC - Guardian UK - Honduras - CJR - PFT

UN GATE / SDNY COURT, May 29 – Today is the last day for Joseph Otting as US Comptroller of the Currency, a position he has misused to attack the Community Reinvestment Act he came to despise as head of OneWest Bank.

  We have only two words: Good riddance.

   It has not only been a policy dispute. Under Otting, the OCC immediately started denying Freedom of Information Act fee waivers, even for copies of pending merger applications subject to public comment. He debased certain longtime OCC staff, or perhaps they had alwasy been ready to take this turn. Time will tell.

Otting started refusing to consider timely comments on mergers, such as the take-over of Chinatown FSB by a national bank. Such contempt for the public and the public process is Otting's legacy.

  What will change under Otting's successor Brian P. Brooks? Brooks was vice chair of OneWest, before going to FannieMae then CoinBase, which he left only in March. Inner City Press has heard a number of things about Brooks, but as always goes into it with an open mind. Watch this site - and this project:

Amid the COVID-19 pandemic, fair lending and Community Reinvestment Act are taking a back seat, or worse.

While Otting pushed forward with his proposal to weaken the CRA, his new chief national bank examiner Blake Paulson, installed just before Otting left, said bank examinations have gone 95% off-site.

   Fintechs and other non-bank financial firms are now at the PPP trough and are getting sued. For example, there is the lawsuit filed as a class action against Fountainhead Commercial Capital LLC on May 6, noting the finance firm advertised that it would process loan requests on a first-come, first-served basis and then stealthly shuffled its line of PPP applicants so that it would lock down the largest lending fees first.

     Meanwhile the OCC, which wants to admit fintechs into banking without regulation, says no one is in PPP for the money. This while in response to Inner City Press' FOIA request for Otting's schedule the OCC redacted the names of banks that he met without, and obscured others. (A FOIA appeal has been filed.)

   Amid all this, Fair Finance Watch and Inner City Press / Community on the Move are launching a new project. And so far, Otting's national banks have been among the worst. Watch this site.


Your support means a lot. As little as $5 a month helps keep us going and grants you access to exclusive bonus material on our Patreon page. Click here to become a patron.

Feedback: Editorial [at]
SDNY Press Room 480, front cubicle
500 Pearl Street, NY NY 10007 USA

Past & future at UN: Room S-303, UN, NY 10017 USA

Mail: Box 20047, Dag Hammarskjold Station NY NY 10017

Reporter's mobile (and weekends): 718-716-3540

Other, earlier Inner City Press are listed here, and some are available in the ProQuest service, and now on Lexis-Nexis.

 Copyright 2006-2020 Inner City Press, Inc. To request reprint or other permission, e-contact Editorial [at]