WASHINGTON — The Office of the Comptroller of the Currency has notified about 600 employees that their jobs could be realigned, consolidated or eliminated as the national bank regulator prepares for another round of restructuring.
The agency sent an Oct. 15 email to employees following an organizational assessment, according to the report, which cited the email and people familiar with internal OCC matters who spoke anonymously, according to Bloomberg Law. The notice did not mean all recipients would lose their jobs.
“Based on that review, your position has been identified for possible realignment, consolidation, or elimination,” the email said, Bloomberg Law reported.
Employees receiving the notice were asked to submit resumes of no more than two pages and information on their experience, qualifications and certifications to the agency’s human capital office by Oct. 19.
Has Seen 30% Reduction in Workforce
The OCC, which supervises national banks including JPMorgan Chase, Wells Fargo and Bank of America, has lost roughly 30% of its workforce since President Donald Trump took office in 2025 through dismissals, retirements and buyouts, Bloomberg Law reported. Office of Personnel Management data showed the agency employed about 2,600 people as of August.
Potential Cuts to Examiner Support and Community Affairs
Employees on the Risk, Resource & Examiner Development team, which supports bank examiners, are among those considered particularly vulnerable, Bloomberg Law reported, citing people familiar with the situation. Some members of the team had previously been moved into a division overseeing midsize banks.
The agency also plans to eliminate as many as 20 community affairs positions, according to the report. That team works on matters involving the Community Reinvestment Act, the federal law intended to address discriminatory lending practices, and initiatives to expand access to banking.
The OCC and Federal Deposit Insurance Corp. are revising CRA compliance rules, including changes that would exempt more community and regional banks from the most demanding reviews. The Federal Reserve, another CRA regulator, is not participating in that revision, Bloomberg Law reported.
Third round of Reductions This Year
Under Comptroller Jonathan Gould, the OCC offered employees buyouts in June through a voluntary transition program. In September, it moved to eliminate approximately 50 positions, largely in policymaking, according to the National Treasury Employees Union as cited by Bloomberg Law. The latest potential reductions are separate from those earlier actions.
The OCC has not directly targeted its bank supervisory teams in the cuts, although examiner ranks have shrunk through retirements, buyouts and other departures, according to the report. Supervisory staff have been reorganized and instructed to focus on material financial risks.
At the same time, the OCC has expanded its work involving digital assets, including national trust bank charters for cryptocurrency and other financial technology companies. It is also preparing to oversee stablecoin issuers under rules implementing the 2025 GENIUS Act.
Bloomberg Law reported that neither the OCC nor the National Treasury Employees Union responded to requests for comment. The agency canceled its collective bargaining agreement in March following a federal directive to terminate such agreements.
