Banking regulator attempts to dispel myths

A question that constantly plagues Gulf Coast bankers when it comes to regulation is simple: What do federal regulators really want?

Jennifer Kelly, a high-ranking official with the U.S. Office of the Comptroller of Currency, recently revealed some of the secrets. Speaking during a panel discussion May 4 at the SNL Financial Community Bankers Conference in Welsey Chapel, Kelly reported that bankers, in general, shouldn't fear regulators.

“The real key is a no-surprise approach,” says Kelly, a senior deputy comptroller with the OCC who oversees supervision of midsize and community banks nationwide. “If there's news, or something is going to happen, we'd rather hear it from you than read about it in the paper or see it on our next regulatory exam.”