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Office of the Comptroller of the Currency

Despite shutdown, most federal financial regulators remain on job

Despite shutdown, most federal financial regulators remain on job

WASHINGTON -- Although the federal government began a partial shutdown Tuesday, most financial regulators remained on the job because their agencies are funded outside the congressional appropriations process. But the effects of the shutdown still will be felt in the financial sector -- and would increase the longer it lasts. The special mechanisms that pay for most financial regulators -- in many cases through fees on the firms they oversee -- limits the direct consequences of the shutdown on Wall Street and the banking industry. QUIZ: Test your knowledge about the debt limit The Federal Deposit Insurance Corp., the Federal Reserve, the Office of the Comptroller of the Currency...

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