The New Republic (TNR) has recently posted an article (sub. req’d) about the U.S. Office of the Comptroller of the Currency (OCC). The article’s title, "The Nefarious Bureaucrat Who’s Helping Banks Rip You Off," tells you the gist of the article. For many Credit Slips readers, it won’t be news that the OCC’s has used its federal powers to stop state initiatives to protect consumers. I found the portrait of Julie Williams, the head chief counsel of the OCC, quite interesting. Although her policies are in line with the Bush Administration’s general use of federal authority to preempt state consumer protection legislation, she has been at the OCC in various capacities since 1993. If you have access to TNR, this article is worth a look.

UPDATE: As originally posted, I mistakenly identified Julie Williams as the head of the OCC. She is the first senior deputy comptroller and chief counsel and in that role has a significant role in deciding the litigation positions of the OCC. For the record, the head of the OCC is John C. Dugan.