WASHINGTON - For a regulator, Jonathan L. Fiechter, the Office of the Comptroller of the Currency's newest senior adviser, has a fairly unusual job description. He gets paid to make sure the OCC does not hamstring the industry as banks must increasingly compete with less-regulated firms.

His nightmare starts off like a bad banker-on-the-golf-course joke, but it quickly turns serious.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.