Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Trump administration set to replace top banking regulator Thomas Curry: WSJ

Published 05/01/2017, 11:47 PM
Updated 05/01/2017, 11:50 PM
© Reuters. U.S. Comptroller of the Currency Thomas Curry answers a question during the Reuters Financial Regulation Summit in Washington

(Reuters) - The Trump administration plans to replace Comptroller of the Currency Thomas Curry as chief overseer of federally chartered banks, the Wall Street Journal reported on Monday.

The change, which could happen as soon as this week, could lead to President Donald Trump replacing Curry with an acting head of the agency, WSJ reported, citing people familiar with the matter. http://on.wsj.com/2oRJcjU

The Office of the Comptroller of the Currency (OCC), which oversees the federal banking system, administers hundreds of bank supervisors stationed inside large U.S. financial firms.

Curry, appointed by the Obama administration for a five-year term that expired in April, could remain in the role until a new appointment is made.

President Trump is considering Joseph Otting, a former banker at OneWest Bank who worked with Treasury Secretary Steven Mnuchin, to take on the responsibility of this office and replace Curry, the paper said.

Keith Noreika, a banking lawyer at Simpson Thacher & Bartlett LLP, is being considered as acting comptroller, WSJ said. Noreika was part of Trump's transition team for Treasury. He also advised Treasury on its $250 billion Troubled Asset Relief Program, or TARP, in 2008.

The White House and OCC were not immediately available for comment.

© Reuters. U.S. Comptroller of the Currency Thomas Curry answers a question during the Reuters Financial Regulation Summit in Washington

Noreika did not immediately respond to an email seeking comment.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.