WaMu Customers, Office of the Comptroller of the Currency Is Your New Regulator
As an aside, WaMu's charter was under the Office of Thrift Supervision (OTS). Chase's bank regulator is the Office of the Comptroller of the Currency (OCC). Whether being a Chase customer was your choice or not, if you ever have a major complaint about Chase regarding what you feel is on the bank's part malfeasance, you'll want to send it to the OCC.
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Comments:
Ding dong, the witch is dead.
What's the difference between the two offices?
You down with OCC?
Ugh. This is the final straw for me. Credit union, here I come!
I feel bad for the WaMu employees (at least the vast majority of them - the ones having nothing to do with selling toxic loans). I've banked with them for ten years, and have had nothing but a positive experience. Here's hoping that many or most workers can remain employed, and that the new management is worth remaining employed with.
I've got a mortgage with WaMu. It will be interesting to see how that goes.
Thanks for the heads up!
The OCC does jack squat as a regulator. The mission of the agency is to promote banks, not protect consumers. So good luck sending your complaints to them; they won't care.
So what does this mean for your average WaMu account holder (like me)?