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Regulators Turning to Retired Examiners to Bolster Ranks as Banks Fail
By Brian Monroe
printFederal banking regulators, besieged by a surge in bank closings, are resorting to re-hiring retired examiners to speed up receiverships and resolve billions in toxic assets, the flotsam of a still unsettled mortgage meltdown. This power, used sparingly by regulators in previous years, has become a way for agencies – including the Federal Depositors Insurance Corp., Federal Reserve, Office of the Comptroller of the Currency and Office of Thrift Supervision – to bolster their ranks with seasoned veterans ready to dive into situations that can be chaotic and complex, say current and former examiners. Former examiners have the experience to...
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