[10] In addition, during his tenure, he led U.S. Bank's efforts in California as the senior executive responsible for expansion in the region.

[24] In May 2017, the U.S. Department of Justice reached an $89 million settlement with CIT[25] involving a portfolio of reverse mortgage products acquired from the failed IndyMac Federal Bank[26] and compliance with HUD foreclosure requirements, which requires banks to complete resolution and foreclosure activities within an aggressive timeline.

[27] On March 7, 2024, Otting was announced as the new CEO of New York Community Bancorp, Inc, parent company of Flagstar Bank.

[32] During his swearing-in ceremony, Otting stressed that his priorities include job creation and economic discrimination, reducing regulations, enhancing the value of the federal charter, and ensuring the OCC operates as effectively and efficiently as possible.

[33] In his first testimony as Comptroller, Otting discussed his main priorities, which included modernizing the Community Reinvestment Act; encouraging banks to meet the short-term, small-dollar needs of their customers; making Bank Secrecy Act compliance work more efficiently; simplifying regulatory capital and Volcker Rule; and helping the OCC operate as efficiently and effectively as possible.

[34] On May 23, 2018, the OCC published a bulletin promoting short-term, small-dollar installment loans to encourage national banks and federal savings association to help meet the credit needs of their customers.

"The decision to consider applications for special purpose national bank charters from innovative companies helps provide more choices to consumers and businesses, and creates greater opportunity for companies that want to provide banking services in America," said Comptroller Otting.

[37] On August 28, 2018, Otting announced that the OCC released an Advance Notice of Proposed Rulemaking to solicit input on the best ways to modernize the regulations implementing the Community Reinvestment Act (CRA).

[42] Otting's proposed changes would go into effect on January 1, 2023, and would expand the criteria under which banking activities qualify as serving low-income communities.

[44] Congresswoman Maxine Waters commented that Otting's efforts to weaken the CRA were likely informed by the challenges the law presented to the merger he presided over at OneWest.

[45] In May 2020, it was reported that Otting would resign as Comptroller of the Currency,[46][47] upon the finalization of the updates to the 1977 Community Reinvestment Act.

[11] In addition, the Ottings are co-owners of Southern Highlands Golf Club, Tennis Facility, and Spa.