The Office of the Comptroller of the Currency is defending Acting Comptroller John Walsh from attacks levied by senators who claim Walsh gave a speech criticizing new capital requirements for banks.
In response, the OCC released a statement, suggesting the senators took Walsh's speech out of context.
"The speech delivered by the Acting Comptroller Walsh did not urge a reduction in capital," a spokesman for the OCC said. "In the speech, Mr. Walsh supported increased capital requirements and has said so on record. The speech urged caution about the cumulative effect of many new requirements and about going too far to a point where restrictions inhibit banks from meeting the credit needs of citizens, communities and businesses which are central to a vibrant economy."
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