24 Facts About Joseph Otting

Joseph M Otting was born on 1957 and is an American businessman and government official.

Joseph Otting served as the 31st Comptroller of the Currency from November 27,2017 to May 29,2020.

Joseph Otting holds a Bachelor of Arts degree in management from the University of Northern Iowa, which he received in 1981.

Joseph Otting is a graduate of the School of Credit and Financial Management, a multi-year program that includes four-weeks of classroom instruction offered by the National Association of Credit Management, which was held at Dartmouth College at the time he attended in 1992.

Joseph Otting started his career at Bank of America, where he held positions in branch management, preferred banking, and commercial lending.

From 1986 to 2001, Joseph Otting was with Union Bank, where he held roles including deputy regional vice president, senior vice president, executive vice president, and group head of commercial banking.

Between 2001 and 2010, Joseph Otting worked for US Bank, a subsidiary of US Bancorp.

Joseph Otting served as Market President of US Bank in Oregon from December 2001 to June 2003 and as Executive Vice President and Manager of East Region Commercial Banking Group from June 2003 to April 2005.

Joseph Otting served as President of CIT Bank and co-president of CIT Group from August 2015 to December 2015.

In 2011, Joseph Otting signed a consent order, in conjunction with 14 other large bank mortgage servicers, with the US Office of Thrift Supervision regarding the bank's mortgage servicing and foreclosure practices.

When Joseph Otting left CIT in December 2015, the Wall Street Journal calculated that he earned $24.9 million in compensation for 2015, including a $12 million severance payment.

On March 7,2024, Joseph Otting was announced as the new CEO of New York Community Bancorp, Inc, parent company of Flagstar Bank.

Joseph Otting was appointed Executive Chairman of both the Company and the Bank Boards effective June 5,2024.

Joseph Otting has served as President and Chief Executive Officer of the Company and the Bank since April 1,2024.

On June 5,2017, President Donald Trump nominated Joseph Otting to become the Comptroller of the Currency, responsible for overseeing federally-chartered banks, savings associations, and federal branches of foreign banks operating in the United States.

Joseph Otting's proposed changes would go into effect on January 1,2023, and would expand the criteria under which banking activities qualify as serving low-income communities.

Joseph Otting was the CEO of OneWest when the bank sought approval to merge with CIT, a process that was complicated by the bank's history of noncompliance with the CRA.

In May 2020, it was reported that Joseph Otting would resign as Comptroller of the Currency, upon the finalization of the updates to the 1977 Community Reinvestment Act.

Joseph Otting formally announced his resignation on May 21,2020.

On December 21,2018, President Donald J Trump designated Otting to be the acting director of the Federal Housing Finance Agency upon completion of current Director Mel Watt's term.

Joseph Otting has played significant roles in charitable and community development organizations.

Joseph Otting has served as a board member for the California Chamber of Commerce, the Killebrew-Thompson Memorial foundation, the Associated Oregon Industries, the Oregon Business Council, the Portland Business Alliance, the Minnesota Chamber of Commerce, and Blue Cross Blue Shield of Oregon.

Joseph Otting was a member of the Financial Services Roundtable, the Los Angeles Chamber of Commerce, and the Board and executive committee of the Los Angeles Economic Development Corporation.

In 2018, while living in Las Vegas, Joseph Otting co-owned Southern Highlands Golf Club, Tennis Facility, and Spa.