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NR 2017-119
Contact: Bryan Hubbard
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OCC Chief Counsel Amy Friend Announces Retirement

WASHINGTON—Amy Friend, Senior Deputy Comptroller and Chief Counsel at the Office of the Comptroller of the Currency, today announced that she will retire from federal service and step down from her position on November 11, 2017.

“Amy has made far-reaching contributions to the OCC and to the federal banking system,” said Acting Comptroller of the Currency Keith Noreika. “Her work at the agency and on Capitol Hill helped shape financial services as we know it, promote the safety and soundness of our nation’s banks and thrifts, and protect and empower consumers. Her vision and tireless effort to promote responsible innovation at the OCC and throughout the industry changed our national dialogue on the topic.”

Since becoming Chief Counsel in February 2013, Ms. Friend has led the agency’s legal activities, including legal advisory services to banks and examiners, enforcement and compliance activities, litigation, legislative initiatives, licensing, and regulation of securities and corporate practices of national banks and federal thrifts. In this role, she oversaw major efforts to write and implement the rules required by the Dodd-Frank Wall Street Reform and Consumer Protection Act and to conduct a decennial review of OCC rules and regulations under the Economic Growth and Regulatory Paperwork Reduction Act.

In 2015, Ms. Friend headed the agency’s efforts related to responsible innovation, leading a cross-functional group in developing the agency’s views on innovation that resulted in the publication of the agency’s first white paper on the subject, a well-attended public forum in June 2016, and formation of the OCC’s Office of Innovation. Ms. Friend previously served as Assistant Chief Counsel at the OCC from 1998 to 2008.

From 2011 to 2013, Ms. Friend served as Managing Director at Promontory Financial Group advising clients on a variety of regulatory, strategic, and compliance issues. From 2008 to 2010, she served as Chief Counsel for the U.S. Senate Committee on Banking, Housing, and Urban Affairs.

Until the OCC completes its search for its next Chief Counsel, Karen Solomon will serve as Acting Senior Deputy Comptroller and Chief Counsel. Ms. Solomon currently serves as one of two Deputy Chief Counsels at the agency overseeing its Legislative and Regulatory Activities, Securities and Corporate Practices, and Bank Activities and Structure Divisions. She also supervises the district counsel staffs in the OCC’s Northeastern and Central Districts.

Prior to joining the OCC in 1995, Ms. Solomon was a Deputy Chief Counsel at the Office of Thrift Supervision (OTS) from 1991 to 1995. She began her federal government service in 1985 at the OTS’s predecessor agency, the Federal Home Loan Bank Board.

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