U.S. Comptroller halts plan to remove in-house bank examiners

Bank examiners can continue working inside the banks they supervise, U.S. Comptroller of the Currency Joseph Otting said on Wednesday, in a policy reversal for the U.S. banking regulator.

Otting said he was stopping a project begun by his predecessor to move examiners out of large institutions like JPMorgan Chase (JPM.N) and Bank of America (BAC.N), citing costs of independent real estate.

In a statement, Otting said the regulator would instead seek other approaches to ensure examiners did not become overly sympathetic to the banks they regulated.

The policy shift marked the latest example of the Trump administration reversing efforts by former President Barack Obama aimed at stricter oversight of large financial institutions following the global financial crisis.

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