Anyone know about state banking commissions? In particular how many teeth do they have when it

[lonestarnot]

comes to bank regulation... 2 or 32?

[FarCenter]

1. Varies from state to state

They regulate state chartered banks, which are usually small.

Some states, for example Georgia, have had a large number of failures.

[lonestarnot]

2. And Office of the Comptroller of the Currency, how many teeth does that office have?

[TexasObserver]

3. Big teeth, that can chomp down and make a bank disappear.

The bank examiners work for the Office of the Comptroller of the Currency. They audit bank records, determine the loans that are non performing, and often require that such loans be written off against the bank's shareholder equity.

They can force a bank into insolvency, by declaring it has a negative equity.

They work out of the Dept of Treasury.

[lonestarnot]

5. Well, that sounds interesting.

I'm working on a complaint.

[FarCenter]

6. OCC's complaint web site

http://www.helpwithmybank.gov/complaints/index.html

[lonestarnot]

7. Thanks FC.

[FarCenter]

4. More, and more than the Office of Thrift Supervision

Without looking up statistics, it seems to me that more Federal institutions supervised by OTS have failed than institutions supervised by the OCC.

IndyMac and WaMu come to mind as OTS supervised large failures.