U.S. Representatives Steven C. LaTourette (R-Bainbridge Township) and Dennis Kucinich (D-Cleveland) met this afternoon for about 90 minutes with top Treasury officials and banking regulators to discuss the sale of National City Bank to PNC.
They said it was a frank, open and honest discussion with top officials from Treasury and the Office of the Comptroller of the Currency (OCC). Both members said every question they asked was answered.
“The information we received was of a confidential nature and we need time to review it and decide what the next course of action will be. It was a very forthright meeting. We have agreed to have no further comment regarding the meeting or subsequent action until we review the information provided to us,” LaTourette and Kucinich said in a joint statement.
LaTourette and Kucinich met with Neel Kashkari, who heads up Treasury’s Troubled Asset Relief Program (TARP); Timothy W. Long, Senior Deputy Comptroller Bank Supervision Policy and Chief National Bank Examiner for the Office of the Comptroller of the Currency; and the chief counsel of the OCC. LaTourette requested the meeting after questioning Treasury Secretary Henry Paulson at a recent hearing before the House Committee on Financial Services. LaTourette invited Kucinich to today’s meeting.
