WASHINGTON – Daniel P. Stipano, Deputy Chief Counsel,
Jennifer Kelly, Deputy Comptroller, Midsize and Credit Card Banks, and Lester
Miller, National Bank Examiner,
testified today before the Senate Government Affairs
Permanent Subcommittee on Investigations
on the supervisory and enforcement actions the OCC has taken against
Riggs Bank, and the challenges regulatory agencies face in combating money
laundering and terrorist financing in the United States.
The oral and written statements are available on the news
release page of the OCC’s web site at: http://www.occ.treas.gov/04RELLST.HTM.
# # #
The OCC charters, regulates and examines
approximately 2,000 national banks and 51 federal branches of foreign banks
in the U.S., accounting for more than 56 percent of the nation’s banking
assets. Its mission is to ensure a safe and sound and competitive national
banking system that supports the citizens, communities and economy of the
United States.