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Trump to Replace Top Bank Regulator

Image: Trump to Replace Top Bank Regulator
(AP)

By    |   Tuesday, 02 May 2017 09:52 AM

President Donald Trump is set to replace Comptroller of the Currency Thomas Curry, who oversees federally chartered banks, The Wall Street Journal reported.

Curry, who was appointed by President Barack Obama, served a five-year term that ended in April, according to the newspaper. He continues to serve until Trump replaces him, the Journal said.

The position oversees hundreds of bank supervisors inside large U.S. financial firms, the newspaper said.

Trump could replace him as early as this week, the Journal said attributing its information to "people familiar with the matter."

Trump is considering Joseph Otting, a former banker who had worked with Treasury Secretary Steven Mnuchin at OneWest Bank, as his nominee for the post, the newspaper said.

An acting comptroller could be named until new one is confirmed, the Journal reported.

Otting has already undergone formal vetting, CNBC reported.

Curry's replacement is expected to play a significant role in carrying out Trump's promise to roll back regulations, CNBC reported.

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President Donald Trump is set to replace Comptroller of the Currency Thomas Curry, who oversees federally chartered banks, The Wall Street Journal reported.
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2017-52-02
Tuesday, 02 May 2017 09:52 AM
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