Sens. Elizabeth Warren, D-Mass., and Chris Van Hollen, D-Md., sent a letter to OCC officials suggesting that Bank of Tokyo was trying to avoid an investigation by New York examiners when it switched to a federal charter.
Mnuchin’s former business associate is likely to be sworn in next week; Mulvaney, as a congressman, called the CFPB a “joke” and co-sponsored a bill to kill it.
The Senate confirmed Jospeh Otting, a former business partner of Treasury Secretary Steven Mnuchin, to lead the Office of the Comptroller of the Currency.
The nominations of Randal Quarles as Federal Reserve Board vice chairman and Joseph Otting as comptroller of the currency will now head to the full Senate.
