May 21,2009

Press Contact:

Jill Kozeny, 202/224-1308

Jill Gerber, 202/224-6522

Grassley letter to the University of California, Los Angeles, regarding disclosure of outside activities of medical researchers

Sen. Chuck Grassley today made the following comment on a report released today from the Treasury Department Office of Inspector General. The report, OIG-09- 037 – SAFETY AND SOUNDNESS: OTS Involvement With Backdated Capital Contributions by Thrifts, is available at reports/2009.

“This report paints the disturbing picture of a regulatory agency being much too cozy with the industry it’s supposed to be regulating. It’s completely unacceptable that the Office of Thrift Supervision allowed itself to become a party to misleading depositors and investors about when the thrifts received additional capital. The agency needs to make sure this doesn’t happen again and hold the appropriate people accountable.”