. >> occ director's report. review of recent activities, presentation of occ's monthly comprehensive statistical report for the periods of tin were 1, 2011 through may 312011, january 1, 2010 through may 31, 2010, and revised reports from the periods of january 1, 20 april 1103, 1930, 2011, and they worry 1, 2010 through april 30, 2010. >> good evening. i like to introduce a legal intern we have. her name is emily shannon, and she will graduate in december. she is volunteering her time to us. she graduated from ucsb, and we're very pleased to have a family on our staff as an intern. president mazzucco: thank you. >> moving quickly through the statistical reports, last week, commissioner slaughter had a question about the april statistical report, and there was a data entry error in this reports that we have corrected. there was a question about how we reached our pending cases. the pending cases are the cases that remain at open and we subtract the close cases from, the cases we have received. there are subcateg

two is that even though occ complaints have gone down, i don't have that on any reflection of occ themselves. that is more likely on the policeman doing a better job in terms of communicating with the public at large. and i think that is the issue. so i address you in this particular case that i would like those documents, as requested. ms. hicks has my letters. she should bring them forward. so that i can close my case without any further inquiry in terms of what the actual numbers are and what the actual official documents are. because i think my whole case, since ms. hicks lost the documents twice, the investigator lost the documents for the third time, when i stood before the police commission, there something a little funny that took place at occ to reflect my particular complaint. i don't think it was an issue that it was a very big complaint, because it was not. but i think if the occ is going to take care of complaints in that manner, something is missing. president mazzucco: any additional comments? >> yes, commissioners. it just occurred to me that often what is overlooked is i thi

the occ ruled information only. they said the matters i brought up raised issues that were beyond the jurisdiction of the occ. the definition of "information only" is the actions described were not permitted by sworn member of the department or the story told is so unbelievable that it cannot be accepted by a competent authority. they also said, regarding the statement in the letter of finding, that it was beyond the jurisdiction of the occ. one of the investigators told me that the fbi [inaudible] the policemen that i named in the complaint was retired and therefore they did not have jurisdiction over that police officer anymore. tonight makes my fourth attempt to get clarification on all of those findings. i went and met with the occ investigators at the end of their investigation and try to get them to clarify what they are telling me, and they would not. i sent a letter to the occ director and she refused to explain the findings for me. i came before the police commission on the 27th of april and requested clari

it may be occ, but we're not sure. president mazzucco: ok. >> thank you. on july 20 of last year, i was falsely arrested by the police. the lady that i rented a house from accused me of hitting her with a door. i did no such thing. the police showed up, three officers, two squad cars, and they never questioned me to get my side of the story. i was handcuffed and sent to jail. i spent three days, two nights in jail. and i am here to get justice. and i am going to see if i confined to the officer, but i was falsely arrested. and i would like to know what the commission thinks about that. what justice am i entitled to? president mazzucco: sir, we don't ordinarily respond, but i would suggest that you speak with representatives from the occ who just stood up, and filed a complaint with her. >> thank you for your time. president mazzucco: thank you very much. good evening. >> commissioners, good evening. for the record, i have been a resident of the city and county of san francisco 41 years. i would like to bring up to date that i was at the board of supervisor

and there will be no layoffs at tghhe occ. there will be three senior investigative positions, a 16th line investigator position is supposed to be funded after september. i am looking at some alternatives. >> maybe we can get the board of supervisors to consider another academy class for you and a couple of more investigators. obviously, our opinion is that a stronger occ makes a strong police department. whatever you need from us, we will be there for you. >> thank you very much. >> are there any questions for director vix? please call line item 2 c? >> i want to take this up to 82 think the chief flaw in the negotiations and the reference to the budget crisis. there is a lot going on. many members of our city and family and i want to commend them. i would like to think commander lee for the reform. i think that we should clear up some discrepancies. i went shopping. the day and there was a petition and i hear people say that the need to take police officers money away. while i agree that there is need for reform, i think tha

we tried to bring a case about it, and we were shut down by the occ, office of control of the currency, the puppet of all banks. it was us versus the major banks in the occ and lost that case interestingly enough until we got to the supreme court. all the way to the united states supreme court, it was an issue with federalism, jurisdiction. the point i wanted to make to show you life is not ever totally predict l, the reason we won in the supreme court we got the four traditional liberal votes, but we needed five. five, if you're a lawyer, is the most important number in the world because five votes in the supreme court do anything. they can choose the president, whatever. the fifth vote we got was justice scalia. here was somebody who looked at state's rights, the issue of market behavior and said you know what? these guys are right. i make the point to not prejudge the opposition and presume they'll be predictable. we ultimately won giving us, not until 2008, so too late obviously, the power to dig more deeply in the subprime area, but back in 2004 when this was pending, i wrote an a

now the police or occ were commissioners are required to respond to questions from the public. the commissioners and police should refrain from entering any debates or speakers during public comments. >> thank you very much, lieutenant. >> good evening, commissioners who shall remain nameless. >> i live in south of market. i am here to address two if near and dear to my heart. -- two issues near and dear to my heart. i have lived in oakland, which is where i am from. this really needs to be able to have a police officer that you can contact to tell us about things which are running the miss or amok in your area. i really appreciate the efforts because they are not here on your panel and i want to do shutouts -- out out some two commander lazar. lt. sullivan was helpful in keeping things down to a dull roar. i miss them because that was community involved policing. they were people that i could call and say, hey, x, y, z is going on. the other thing i want to bring to your attention is my concern about the gay parade impact on south of market. i live in the folsom -- apartments.

i do not know why the police department has to have the occ and the police commission. are like the police to take its own business and enforce the law. and they are not bad. i know some chapters, and the officers, and we need to start cutting at the top, get these commissioners out of the way. affordable housing -- people choose to live this way, fine. they did not have to have 10 automobiles. they do not have enough guts to get near my driveway. [laughter] they do not. they run. they stand up to the police, but when i come, they fly. so let's start at the top and then work down. [applause] >> good evening, everyone. i'm here to support the excelsior family connections. [applause] i have two kids. one is 2 1/2, and the little one is five months. with two kids, and working, i have a lot of stress from kids, from my husband, from my work. and financial stress. so the staff at the excelsior family connections some crying, and they came up to me and asked if i was ok. they are just like my family. i go there every day, and i see the staff there more than i see my siblings.

but i wanted to know i am here and i am going to support them, so when they turn their paperwork into occ, i will be of this a, you know, i looked at it and this is what happens. you did not have an up this or enough that. there is a need for me to be here. there are so many lawyers and everyone on the board. it is not about a political gain. we are out in the community. where is the community? i do not see the community. i see people on different boards. they are doing all these great things and that is great. i feel like i do great things, to. i feel like maybe i do not have a law degree or a ph.d., but i am just as great as them. i raised four wonderful children. the law passed away. my kids go to school. i have seen children that are in prison, in jail, dead on the streets. i tried to talk to those children, give them away out. i cannot save everyone. but if i can help one life one day at a time, i am ok with that. i am ok with teaching them what they need to know. they need knowledge. i was going to state the words of my people perished from lack of knowledge. people are afraid of po

the fdic board approved final rule joint with the occ and federal reserve to implement section 171 of the dodd-frank act. this provision of the act, the collins amendment says the capital requirements of the largest banks cannot be less than the capital requirements community bank face for the same exposures. this model under basel ii can be used to increase, but not reduce requirements. unfortunately, large banks in europe and elsewhere are allowed to effect their own capital requirements. 24 concerns me greatly for the reasons indicated, and i look forward to discussing that more with the committee. i think we need to, as we strengthen capital standards here, we need to make sure that you follow suit, and i will be glad to talk to the committee as long as i can which is not much longer, and i hope my colleagues will continue this course to maintain very strong capital standards in the united states. thank you. >> chairman schapiro. >> thank you. i appreciate the opportunity to testify today on behalf of the securities exchange commission regarding the international implications of t

. >> how are your metrics different from the occ's? >> i don't know. i haven't had a chance, i really haven't seen. apparently occ is done independent analysis that i have not seen and i would welcome looking at it. i think perhaps he is looking at historical numbers but historically i think there is probably a case the financial system is not have sufficient capital and this is why we continue to have these cycles of, very severe one recently. also if you are looking at at risk-weighted assets unfortunately for all the subjectivity and capital levels based on how a bank is -- is assets so i don't know if the analytical and their penning is for his views and i would be happy to take a look at them. >> and i'm not asking about the health of european banks but in terms of international competitiveness, isn't it important that we are harmonized globally with these capital requirement level so we are not disadvantaged? >> i think it is important we have international agreement. i think capital, strong capital is a competitive strength and a competitive wea

come in and said and look, you cannot make it works a with the small banks andre credit and unions the occas come in and w said it won't work.is will market forces will take over.rushed. this will not work. the they will get crushed.ve come i the state examines, the state bank commissioners have come in i and said the burden the amendment as written is going toonsumers. be disastrous to consumers. it's going to be disastrous toe all d the smaller institutions with loo which we all deal.water so look i'm not trying to carry water for either side. f i'm trying to come up with a solution that's fair.or i worked with senator tester. senator senator brown, numbers of people to try to come up with language that it's the sweet spot. responsilit but i think that we have a abo responsibility whuten we know that something is about to have been that won't work that it's going to be devastating. i think we have an obligation toeets the try to come up with something that meets the test of trying to be fair to both sides and that's what this amendment does. the senator talked about all add it kind of th

. $10 i have read all the quotes from bernanke and bair in the and the head of the occ and the ncua in all of them. they said they don't know how to make us a system the system work as a free-market system and we will overrule that and that is that' how got to be in this country. so the bottom line is from a rural perspective and impact federalrn government has a ruralle we're american while we are tried toe p solve one problem we arero t creating two or three others. cou i could care less about the wall street banks. theygo are going to do fine but i we will tell you what. in we lose the banks we lose the banks in our small towns in montana or wyoming or tennessee, you can put another nail in themeri. coffin of rural america. with that i yield the floor to the good senator from tennessee.enneee speech the. senator from tennessee. >> i couldn't agree more. it is amazing in a way past the 2400 page bill a year ago and on all the tough decisions weer deferred to the t regulators and the regulators are now creating all kinds of rules because we know that they had some wisdom that we didn'

from i believe the fed and/or occ. these are like precursors to the big aig trade.so there was a way to figure it out but the question was, you know, what material, what significant, and it depends on how much at the contrary and you are, or are you just going to go along with the joke to make money? i think besides the markets there were authorities that new things are going on but they chose not. yes? >> i just want to ask a question, maybe make a statement about the money market fund theory, and your two views of the world. there was research done by two professors, and it's a broad work but they have some startling figures on reserve prime fund. and if you look at when they loaded up on risk, they went from about 17 or 18 billion in assets to about 60 billion. and if you look at what the spreads were, basis points come in and they're offering 40 basis points, and you look at the assets they shifted to, religious from august 2007 until after the crisis started until august to -- 2008, just one year, they loaded up on risky paper. it's pretty well thought what the

there's the fdic, federal deposit insurance corporation, the occ, office of the comptroller of the currency, the federal reserve, the department of housing and urban development, fha, that oversees fannie and freddie. right now they're taking comments from the public, they're taking comments from the industry in order to decide whether this plan is a good one. host: so working through the specifics o of what you laid out just for a bit of clarification. as far as the total debt is concerned, you said there's a 36% limit on what you have debt wise if you're trying to buy into one of these bhorges. what debts are they looking for? what's the gamut? >> host: guest: they're looking at total debt. credit cards, students loans, aut of loans, just the total picture. and that's what they're calling the total debt. and then they're also requiring at the same time that whatever you pay on your interest each month -- whatever you pay on your mortgage each month can't exceed 28% . host: who could qualify for these kind of things? caller: at this point, very few people. there are some figures out there

holding companies that engage in banking activities in a manner consistent with the way that we, the occ and the fdic, examine banks. not all elements of the dodd-frank act strengthen the role of the fed. just as the fed has been granted greater back-up supervisory authority over the primary regulators of bank holding company subsidiaries under the act, other agencies have been granted back-up authorities in areas where the fed traditionally stood alone. in the line with its responsibilities under title ii of the dodd-frank act for resolving systemically important financial firms, the fdic has new back-up authority to examine bank holding companies and nonbank financial firms supervised by the fed that are not generally in sound condition in order to protect the deposit insurance fund. the fdic also has joint responsibility with the board for reviewing the so-called living wills or resolution plans required under the act and determining if sifis resolution plan is not credible or result in an orderly regulation. the, the sec and fdic have some authority for the for bank activities. for e