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.
Banks and their regulators quickly got back up to speed in markets hit hard by recent hurricanes, in part due to the lessons learned by Hurricanes Katrina and Sandy, a panel of regulators said Tuesday.
Acting Comptroller of the Currency Keith Noreika said he thinks regulators can make a case for an exemption to carve out all small banks from the ban on proprietary trading.
Acting Comptroller of the Currency Keith Noreika called for reopening the debate over the barrier between banking and commerce, saying there is evidence removing it could benefit small banks.
