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News of the Competition (05/15/2014)
  • WASHINGTON (5/15/14)--Comptroller of the Currency Thomas Curry told an audience at a conference hosted by the Conference of State Bank Supervisors Wednesday that neither state nor federal banking regulators should ever use their chartering authority to create a regulatory environment intended to lure a financial institution to one type of charter or another (Politico Pro Whiteboard May 14). The article noted that Curry's remarks were a departure from some past comptrollers' actions meant to convince banks to choose a national charter. Curry made it clear that he welcomed competition, but not competition based on one regulator being less strict, or one charter costing less. Instead, state vs. federal competition should take the form of who is earliest and best at identifying weaknesses and who has the type of expertise that will best support the banking system ...

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