please call item 3b, occ director's report. >> item 3b, occ director's report discussion, review of recent activities and presentation of the occ's monthly comprehensive statistical report and companion report for the period march 1st, 2013 through march 31st, 2013, and march 1st, 2012 through march 31st, 2012. mediation of complaints in march 2013 and adjudication of the same complaints in march 2013. >> thank you, sergeant till shaw. and welcome, director hicks. >> thank you, president, and good evening, commissioners [speaker not understood]. you have a substituted cover letter that properly refers to march as opposed to february. [inaudible] january 1st, 2013 to march 31st, 2013, the occ opened 151 cases. that's 50 fewer cases than were opened during the same period in 2012. we opened 201 cases. this represents a 25% reduction in cases open. from january through march of this year, the occ investigators closed 23 more cases than were opened. 174 cases were closed compared to 151 cases open. as of the end of march of this year, the occ has 284 pending cases. as of today the occ has 291

last year the occ facilitated 62 mediation. that represents 799 cases the occ closed last year. our attempt to resolve issues in a disputed resolution. the goal is to bring parties together in an effort to achieve mutual understanding. we have a partnership with the san francisco bar association to provide us with mediators. we conduct languages other than english. our mediation program is a volunteer that requires both the police officer and the complaint ant to agree. i'm happy to report last year officers that were able to participate in mediation agreed to do so 90 percent of the time. also last year the occ was the winner of community boards 2012 excellence and adr practices award. additionally this year our mediation coordinator donna salazar was the residue residue -- now i would like to talk about the complaints received in 2012 and how the occ resolved complaints. in 2012 the occ received 740 complaints. there has been a steady decline of complaints since 2008. in 2011 we received 784 complaints. last year we sustained alleged in cases we closed we found miss conducted

there are two references to annual reports for the occ. but this one asks for a fiscal year report, and i -- about a year ago when i went through all of these listings, i did provide you with notes that for over 15 years the occ's database has been developed on a calendar year basis. and, so, that is how we generate our annual reports on the calendar year. so, it would be onerous. >> director hilbtionerctiontion, i ~ >> >> director hicks, that is something commissioner turman -- >> [speaker not understood] on the annual year rather than the fiscal year so long as that is in compliance with what we do, and certainly what is in compliance with the administrative code which probably [speaker not understood]. you wouldn't happen to know that off the top of your head [speaker not understood]? >> [inaudible]. >> okay. it's something we can look into and modify because we certainly don't want to make it more onerous on you. >> our final question to the full commission, should we include in this the fact that we're -- do we want to make permanent

so, i guess what i would say that the occ director does not recommend change -- perhaps i do. just based on what our practice is, so. >> so, to be clear, director hicks -- and thank you for jumping in here -- you would recommend that it still stay the same, that they be submitted simultaneously? >> yes. >> rather than prior? >> yes, commissioner kingsley, that's what i would recommend. >> okay, wanted to make sure that we were clear on that. thank you, director hicks. i think that we were down at rules. we're now at rules and regulations. some of the items from here through administrative matters, we may want to -- because there's a lot here. we may want to change the frequency when we are not tie today a particular frequency required by law. for example, some of the items that say where there's no legal requirement and it says annually, perhaps we want to do some of them on odd years and other on even years. so, it's that kind of thing that i think commissioner turman and i and the department and occ would try to work out on those items. item 32 and 33 are a couple that in pa

to date the occ has mediated 14 cases. since we have mediated two cases in april. ~ in the area of the chief's adjudication occ sustained cases in march, between march 1st, 2013 and march 31st of this year, chief sur adjudicated three cases investigated by the occ and determined by may to have sustainable allegations. ~ chief suhr made the following findings and imposed discipline as follows. in the first case which was a neglect i have duty case in violation of department bull pen 11-0 97, which is san francisco, the san francisco police department traffic stop data collection policy, an officer made a traffic stop of a bicyclist who ran a red light and the officer did not collect traffic stop data. : we found that this was a violation of the stop data policy, however, the chief determined that this was not a violation t. was a policy failure because sfpd data collection policy specifically refers to vehicles, not bicycles. ~ this case demonstrates the narrowness of the police department traffic stop data collection polic

the occ came in on the side of the banks to stop us. we have to litigate all the way to the supreme court. >> against the regulators. chapter two. the occ opposed mortgage writedowns. the sort that would have benefitted faith, saved the economy. the occ said no, we're here to protect the banks, not the entirety of our economy. chapter three, their grotesque failure to do an appropriate review, so the occ should be eliminated. >> to the american banker, do i think there were a significant number of people that were foreclosed on at this point in time, i don't think that was a significant number. i guess my question to you, faith, is do you feel there is anyone who has your interest at heart as one of the people who are represented on the spread sheet as one of the statistics, is there anyone in washington you feel has your interest at heart who is looking out for wrou? >> yes and no. you know, tom curry, he inherited this problem, just like president obama inherited this problem. so, he only can do what he can do. to me as a homeowner th

individual commissioners and police and occ personnel should refrain, however, from entering into any debates or discussion with speakers during public comment. please limit your comments to three minutes. >> thank you very much, sergeant. first speaker, please. good evening, good to see you again. >>> thank you very much. good to see you. glad to see you in good health and safe. now, as you know, i'm going to complain about the crime in the tenderloin. i'm sure you know that. now, once again, i'm very proud of the police officers that answer the call of duty and came into the area with hard core law enforcement action in february of this year. that's exactly what i wanted. but i wanted it to continue. i told you that in march at this meeting, in march i told you the same thing that i'm telling you now. now it's april and i am saying it again. the streets are filled with black crime. in february when law enforcement came in, they took a big bite out of crime. crime thought it was over for them and that tenderloin crime would no longer exist. that's what i want, and that's why i contin

the basic stance for the occ was, don't worry, we got this.ey began what was called the independent foreclosure review, they said would be a way of investigating all this wrongdoing in the papers and embarrassing everyone and making sure they got to the bottom of the whole thing and everyone was made whole. the independent foreclosure review was essentially having banks hire independent consultants on bank payrolls to look at the bank's own records. no, really, that's the way it worked or the way it was supposed to work. the process proved to be so obviously disfunctional midway everyone threw in the towel and thus the recently announced settlement. the whole episode was such a ridiculous disaster, the only winners out of this weren't the foreclosed homeowners, constituents who walked away with $2 billion in feeses. $2 billion. the settlement for 4 million homeowners were $3.6 billion to the nearly 4 million wronged homeowners and $2 billion in fees to seven independent consultanting firms. here's the subcommittee senator brown asking if those

this is the occ, big regulator in washington. who gets a job with a major one of these firms who is trying to do this business cannot its mary shapiro, former head of the securities and exchange commission. how convenient. >> obviously there is a lot of back-and-forth. the revolving door goes round and round. mary schapiro said there is no revolving door. i'm not going back to government. maybe the big reason is because they do not pay as much. there has been a lot of people from the sec and other regulators going, and they do good work. it is very close with the government. we refer to them as shadow regulators. when you have this sort of relationship or with also the big accounting firms, of course price waterhouse coopers, also doing this work, there are only so many. you cannot newt them. there are very close to the regulators that they are supposed to be -- gerri: our viewers are looking at a full screen right here of what victims will get. 60 percent, as you said demoted $300. you know, 22 percent will get 1,000. it is just

they're going to follow some of the protocols they put into place with the occ. also the comptroller to provide more transparency and the more gang market. one of the things we did that was more productive than that. we change the law in the state of delaware that says if you have been foreclosed upon, and before you have to answer the petition, there has to be mandatory mediation. what we saw was when we forced these mandatory mediations which quite frankly weren't happening. people we heard from in our state and around the country was that they could not get their banker on the phone. what happened was, we've seen a high success rate. those who go through the mediation program, the banker has to, about 80% of the people who go through it, something other than a foreclosure results. what we've seen are foreclosures in the state of delaware drop off precipitously over the course of 2012 into 2013. >> all right. attorney general beau biden, thank you for being here. >> thank you for having me on. >>> up next, secretary kerry in south korea has accidentally disclos

the three incidents that occ occurr occurred, two occurred simultaneously on boylston street and the third one at jfk about a half hour ago. people should be calm, but they should understand this is an ongoing event and they should understand that we need all the information that we can get available to us. thank you. >> thank you very much. i want to thank the commissioner. i had a call from the president about half an hour ago who assured us that we would have full cooperation of the fbi, the atf who are also on the ground. we have, as the commissioner said, the state police, the national guard fully deployed and we thank them for their assistance. the fire marshal, the city fire marshal is here as well. so a lot of coordination in a very fluid situation. we're asking that people stay out of crowds and calmly make their way home or if they're visiting, back to their hotels. all of the hotels, security will be prioritized at the outset. again, if people have information please use those tip lines. this is very, very important that we get as current information as we can as quickly a

that was the letter from the occ in downgrading the company's rating which is a very big deal.tes a couple analysts who agree with this position as well. it is interesting to see this come to the floor. last week or maybe even the week before we saw a similar proposal at goldman sachs actually get negotiated. the funds and the management got together and figured out, okay, how can we reach an agreement on this. we did reporting and they reached out to jpmorgan last fall. after much back and forth the corporate secretary got back and said, actually we're not going to make our board of directors available to you. >> so you go ahead and send in what you would like the worry to be. we're not going to worry about it. which raises the question what are the odds this could pass. >> jamie dimon asked about what would happen. and last year a similar proposal was brought again. even though it was really just a formality, 40% voted in favor of it. he was asked what if 50 voted in favor. of course the scales would tip against him. and he said over and over again this is an issue with the b

. >> and you -- let me ask a question, nonrhetorical, is that you are not involved with the occ and this settlement that proposed to modify mortgages and compensate people for illegal foreclosures. were you involved at all? >> no, we were not involved. i will say at the time all of that began to unfold, i started as attorney general of ohio, and we were -- we did see the problems, the robo signing and all the rest. i then joaned the bureau -- joined the bureau, and we had a transition period where we were not yet an ip tent agency. -- independent agency. but our role in this which is a going forward role, not so much looking backward. but i want to stress, everybody who's caught up in this situation as soon as our rules take effect are governed by those rules. i doesn't matter that the mortgage was entered into three or five or eight years ago. and the examinations that we're in process right now are examining the process right now. other processes that are looking back to things from several years ago, that's a different issue. but for us the present and the future is very much the agen

with the occ, they were planning to issue that update to their roles since 2001. time, the regulators had realized that banks were sponsoring some of the storefront payday lenders. regulators were not happy about that. they issued guidance that you cannot issue direct payday loans. some banks circumvented that role by saying that they are not paid the loans. they are direct deposit advances so we are well within our rights. host: we've got a tweet -- this process that mainstream a way tos this wa circumvent and places like north carolina? guest: a day lending is illegal in 15 states. whether -- where it is legal, there are so many restrictions. repayment rules to make sure the camera -- consumer can repay. federal regulators are now saying we will take our cues what the states are doing. we will limit the number of loans that to be taken out within a month or eight pay period. what also happens as consumers and of taking out more of these loans because they cannot necessarily cover the first one. it becomes a snowball effect. there was a study this week looking at

e nas como lo que verÁn ahora, grafico a un el significado de la popular frase por amor al deporte, occremos de quedarse pues prÁcticamente en calzoncillos seÑores, pero quÉ pierna modestia a parte. >>> e sÍ. >>> le falta bronceado un poquito. >>> no estaba preparado el muchacho. >>> pero a quiÉn no le ha pasado y lo digo con respeto. quÉ de repente tu vas y vas como pingÜino. >>> cuando te quitaste los pantalones en un bote. >>> pero cÓmo. >>> que vas como pingÜino cuando te suena el telÉfono o algo por el estilo. >>> porque camina uno asÍ. >>> por eso te digo. >>> es por pena a lo mejor. >>> no es lo Único hoy dÍa. >>> quieren ver el video del dÍa. >>> sÍ. >>> es impresionante. >>> en rÍo. >>> aquÍ estÁ. >>> esta chica salvo su vida de milagro porque esta brasileÑa quiso rescatar su telÉfono que se le cayÓ a las vÍas del trepo justo antes este policÍa la levanta y se salvÓ de milagro. >>> quÉ... por el telefono?. >>> sÍ. >>> mira esto. >>> ay!. >>> quÉ terrible. >>> fue un por un segundo. >>> pero que habrÁ traÍdo ese telÉfono ¿no?. >>> la moraleja de la hastas vea las cosas materiale

cftb a lot of ways, the is modeled after the occ in its regulatory structure. appropriations, governments structure, and board members, and the third issue you raise is about the federal reserve. -- fun find a regulator of regulator by payments that are appropriated annually by congress. by a self funding stream, which is usually assessed by the regulator. that is how these banking industries have historically worked. or if the regulator somehow makes money in the course of its operations, the federal reserve is granted the license to sell money. that is a profitable business model. i would say, the license to print money, which is the vernacular, but technically, the amped -- the bureau of printing and engraving actually print the paper. the printed dollar cost 4 cents and then they sell it to the fed, and the set -- and the fed sells it for a dollar. it is a pretty good business boller -- business model. the fed then spends its money on regulation and research as it sees fit, and returns in excess profits to the treasury. -- frank creates a unique structure -

earlier this year, senator blumenthal and i wrote a letter to the federal reserve, occ and fdic urging them to prohibit banks from offering predatory payday loans. today a petition signed by 157,000 americans will be delivered to the same regulators calling on them to ban banks from offering payday loan products. i hope they do. my first mentor in politics was the late senator paul douglass of illinois. he was a ph.d. in economics who served here from 1948-1966. i met him at the end of his career when i was a college student. he wrote, "compound the camouflaging of credit by loading on all sorts of extraneous fees, some lenders charge these exorbitant fees for credit life insurance, excessive fees for credit investigation, and all sorts of loan processing fees which rightfully should be included in the percentage rate statement so that any percentage rate quoted is meaningless and deceptive without it. senator douglass said that 50 years ago. the name of the fees may have changed over time but the goal of nickel-and-diming families out of their hard-earned money unfortunately has not c

upon his passing his depression and occ medication were found untouched in his apartment.e continued to take his anxiety medication. justin returned to school last fall where he appeared to be doing well pt he even joined a wonderful fraternity where you pledge and was supported by the brotherhood. however, just and obviously was terribly and secretly and it did to sherwen in addition to mental disorders pete he died of an accidental overdose, hiram overdose just a few weeks later. the doctors no one in our family was aware he was using heroin, he lethal insidious drug. everyone was in shock and disbelief that we found out nevertheless it was too late. i've confronted mr. vince and nine out of ten are not aware snorting heroin is an option which is how he used the drug not by injection. most are also shocked to learn here and is only five to $10 a bag. was alarming to learn that it's actually cheaper to buy a bag of heroin on the street and to purchase per cassette and oxycontin. it even came from the suburban neighborhoods like my son traveled to dangerous place like camd