Banking Regulators Attorney Honors 2013 : OCC, FRB & FDIC Forum

[Anonymous User]

Does anyone know what the exit ops are for the OCC?

I don't know why you would ever want to leave there. But, you would have a lot of options in the banking regulatory/financial institutions practices of Big Law firms in DC and in-house positions at banks or other financial institutions.

The exit options in the DC market for someone who has been in Gov/. Especially a financial regulatory agency are insanely good. Basically, you can get any office you want and if you are high enough on teh food chain you can lateral in as a partner.

The revvvvvooollvvvinng door is very healthy.

[Anonymous User]

Any updates on FDIC or CFPB? It looks like CFPB is starting to make dings...

[Anonymous User]

Any updates on FDIC or CFPB? It looks like CFPB is starting to make dings...

Has anyone heard anything re: CFPB callbacks?? And if you do hear anything this week, an update on here would be greatly appreciated!

[Anonymous User]

Has the OCC started extending offers?

[Anonymous User]

Any updates on FDIC or CFPB? It looks like CFPB is starting to make dings...

Really? I've heard nothing - total radio silence since applying. I also heard that pre-fall 2011 grads are ineligible.

[Anonymous User]

Any updates on FDIC or CFPB? It looks like CFPB is starting to make dings...

Really? I've heard nothing - total radio silence since applying. I also heard that pre-fall 2011 grads are ineligible.

This is the anon from before. I have heard total radio silence too; I was just surmising that the CFPB has started to make dings based on the email a few posters received last page.

[Anonymous User]

Any idea when FDIC offers will go out? I interviewed at the very end of October and haven't heard anything.

[Anonymous User]

I interviewed at the FDIC the 2nd week in November and haven't heard anything either

[Anonymous User]

For everyone in this thread, if you received offers from both the OCC and the FDIC, which one would you accept and why?

[Anonymous User]

For everyone in this thread, if you received offers from both the OCC and the FDIC, which one would you accept and why?

I would say OCC. The FDIC has been slowly downsizing in a lot of departments (other than PL, CFI and the other people handling OLA) as the number of bank failures declined. The OCC on the other hand has really been ramping up BSA/AML enforcement activities (and the OCC plays a larger role in all of these GSIB enforcement cases anyway) and should end up playing a major role in some of the Dodd-Frank 165 rules. Arguably the FDIC could be pretty interesting because it is taking the lead on some of the Basel III activities and the OCC less so because it will lose a lot of its more interest legal analysis work once push-out and Volcker are complete. IIRC, the OCC pays 10k-15k more for starting attorneys the revolving door is just as good coming from either, so there isn't a bad choice.

[Anonymous User]

For everyone in this thread, if you received offers from both the OCC and the FDIC, which one would you accept and why?

I would say OCC. The FDIC has been slowly downsizing in a lot of departments (other than PL, CFI and the other people handling OLA) as the number of bank failures declined. The OCC on the other hand has really been ramping up BSA/AML enforcement activities (and the OCC plays a larger role in all of these GSIB enforcement cases anyway) and should end up playing a major role in some of the Dodd-Frank 165 rules. Arguably the FDIC could be pretty interesting because it is taking the lead on some of the Basel III activities and the OCC less so because it will lose a lot of its more interest legal analysis work once push-out and Volcker are complete. IIRC, the OCC pays 10k-15k more for starting attorneys the revolving door is just as good coming from either, so there isn't a bad choice.

That was a very well-informed answer!

Good luck and maybe our paths will cross!

Did you interview at both of them?

[Anonymous User]

For everyone in this thread, if you received offers from both the OCC and the FDIC, which one would you accept and why?

I would say OCC. The FDIC has been slowly downsizing in a lot of departments (other than PL, CFI and the other people handling OLA) as the number of bank failures declined. The OCC on the other hand has really been ramping up BSA/AML enforcement activities (and the OCC plays a larger role in all of these GSIB enforcement cases anyway) and should end up playing a major role in some of the Dodd-Frank 165 rules. Arguably the FDIC could be pretty interesting because it is taking the lead on some of the Basel III activities and the OCC less so because it will lose a lot of its more interest legal analysis work once push-out and Volcker are complete. IIRC, the OCC pays 10k-15k more for starting attorneys the revolving door is just as good coming from either, so there isn't a bad choice.

That was a very well-informed answer!

Good luck and maybe our paths will cross!

Did you interview at both of them?

I worked at one and interviewed at both in the past, but am no longer with either.

[Anonymous User]

Any word yet from the OCC?

[Anonymous User]

Any word yet from the OCC?

Tomorrow may be the day!

[Anonymous User]

Any word yet from the OCC?

Tomorrow may be the day!

I interviewed in a year that did not involve a government shutdown (which I know doesn't matter for the OCC and FDIC anyway), but they said they would not get back to me until after Thanksgiving. Don't forget that they are usually busy with year-end deadlines this year that may be diverting the attention of senior people who have to sign-off on hires (the deputy director of blah doesn't actually review the file, but he may need to sign-off on it, and he's probably more concerned with Volcker).

[Anonymous User]

Interviewed Nov 1 for FDIC... Friend got into program few years ago... wait time to hear back is 2 months. Confirmed with another person at FDIC.

[Anonymous User]

Interviewed Nov 1 for FDIC... Friend got into program few years ago... wait time to hear back is 2 months. Confirmed with another person at FDIC.

Gosh these programs move slowly!

[Anonymous User]

Any word yet from the OCC?

Tomorrow may be the day!

I interviewed in a year that did not involve a government shutdown (which I know doesn't matter for the OCC and FDIC anyway), but they said they would not get back to me until after Thanksgiving. Don't forget that they are usually busy with year-end deadlines this year that may be diverting the attention of senior people who have to sign-off on hires (the deputy director of blah doesn't actually review the file, but he may need to sign-off on it, and he's probably more concerned with Volcker).

The year you interviewed, when did you hear back?

[Anonymous User]

Any word yet from the OCC?

Tomorrow may be the day!

I interviewed in a year that did not involve a government shutdown (which I know doesn't matter for the OCC and FDIC anyway), but they said they would not get back to me until after Thanksgiving. Don't forget that they are usually busy with year-end deadlines this year that may be diverting the attention of senior people who have to sign-off on hires (the deputy director of blah doesn't actually review the file, but he may need to sign-off on it, and he's probably more concerned with Volcker).

The year you interviewed, when did you hear back?

I never did. I withdrew the week of Thanksgiving when my other options asked for a final decision and the FDIC and OCC said they wouldn't know until well after Thanksgiving.

[Anonymous User]

Does anyone know if these jobs qualify for the 10-year public service loan forgiveness? I will be going to work for another financial regulator (not the OCC, FRB or FDIC) and they give you 10K a year towards your student loan up to 60K. With that plus the fact that salaries start in the six figures (like the salaries at the regulators mentioned in this thread) qualifying for the loan forgiveness with a higher than normal salary for public service would seem like hitting the lottery. Especially if you can get PAYEE as well. Wondering if there are any income limitations, or is all public service looked at the same. Also, good luck to all of you waiting. I interviewed at a few of these places and they all seem like great places to work!

[Anonymous User]

Does anyone know if these jobs qualify for the 10-year public service loan forgiveness? I will be going to work for another financial regulator (not the OCC, FRB or FDIC) and they give you 10K a year towards your student loan up to 60K. With that plus the fact that salaries start in the six figures (like the salaries at the regulators mentioned in this thread) qualifying for the loan forgiveness with a higher than normal salary for public service would seem like hitting the lottery. Especially if you can get PAYEE as well. Wondering if there are any income limitations, or is all public service looked at the same. Also, good luck to all of you waiting. I interviewed at a few of these places and they all seem like great places to work!

You are still eligible. You will just end up paying more of your loan than another federal employee who starts off at 60K. A may actually finish paying in 10 years, since your employer contributes up to 60k as well.

Will you be working at the SEC?

[A. Nony Mouse]

Employment with any federal, state, or local government counts for PSLF. There is no income requirement, but you must be making payments under PAYE, IBR, or the income-contingent repayment plan (which requires partial financial hardship, but it's based on a debt-income ratio, not on income directly. Basically if you have the typical law school debt you'll qualify).

[Anonymous User]

Does anyone know if these jobs qualify for the 10-year public service loan forgiveness? I will be going to work for another financial regulator (not the OCC, FRB or FDIC) and they give you 10K a year towards your student loan up to 60K. With that plus the fact that salaries start in the six figures (like the salaries at the regulators mentioned in this thread) qualifying for the loan forgiveness with a higher than normal salary for public service would seem like hitting the lottery. Especially if you can get PAYEE as well. Wondering if there are any income limitations, or is all public service looked at the same. Also, good luck to all of you waiting. I interviewed at a few of these places and they all seem like great places to work!

You are still eligible. You will just end up paying more of your loan than another federal employee who starts off at 60K. A may actually finish paying in 10 years, since your employer contributes up to 60k as well.

Will you be working at the SEC?

I more than likely won't finish it off. I have about 130K total (including ug). My employer will make the monthly payment directly to the loan servicer or annually as a lump sum if I want. If I take the monthly plan, under PAYE it looks like I would have to kick in between $100-$300 a month out of pocket over the course of the first 6 years. The last 4 I would have to cover the payment myself, but I still will end up with a balance at the end of 10 years. Good to know that can still be forgiven regardless of income. Yes to your second question.

[tgwwtkwtgn]

Anybody hear anything from the OCC?

[Anonymous User]

I was one of 29 who interviewed for the two positions in the FDIC's 2014 Honors Program. Unfortunately, I received a rejection letter yesterday, December 27, 2013. Congratulations to those who made it through!