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OFFICE OF INSPECTOR GENERAL
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
CONSUMER FINANCIAL PROTECTION BUREAU
March 22, 2013
Michael S. Gibson
Director, Division of Banking Supervision and Regulation
Michael P. VanHuysen /signed/
Acting Associate Inspector General for Inspections and Evaluations and Senior OIG Manager
OIG Report No. 2013-IE-B-002: Review of the Failure of Bank of Whitman
Consistent with the requirements of section 38(k) of the Federal Deposit Insurance Act, 12 U.S.C. 1831o(k), as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Office of Inspector General conducted an in-depth review of the failure of Bank of Whitman.
We provided the Division of Banking Supervision and Regulation with a draft of our report for review and comment. In your response, you indicated that your staff acknowledged the conclusions and lessons learned in the report and will follow up on the report's recommendation. The response is included as appendix C.
We appreciate the cooperation that we received from Federal Reserve Bank of San Francisco and Board of Governors of the Federal Reserve System staff during our review. This report will be added to our public website and will be summarized in our next semiannual report to Congress. Please contact me if you would like to discuss this report or any related issues.
Chairman Ben S. Bernanke
Vice Chair Janet L. Yellen
Governor Elizabeth A. Duke
Governor Daniel K. Tarullo
Governor Sarah Bloom Raskin
Governor Jeremy C. Stein
Governor Jerome H. Powell
Ms. Teresa Curran