Democrats on the Senate Banking Committee are raising concerns that a move by Treasury Secretary Steven Mnuchin to appoint Keith Noreika as acting comptroller was done to circumvent Senate vetting.
The Trump administration’s formal ouster of Comptroller of the Currency Thomas Curry has set in motion a sea change atop financial regulatory agencies that will likely unfold slowly over the next year.
Sen. Sherrod Brown, the top Democrat on the Senate Banking Committee, came out swinging Wednesday after the Treasury Department confirmed it would select banking attorney Keith Noreika as the interim head of the OCC.
The Treasury secretary on Monday reiterated an aggressive timetable for tackling the future of Fannie Mae and Freddie Mac, an issue that has long flummoxed Congress.
President Donald Trump said he is actively considering breaking up giant Wall Street banks, giving a push to efforts to revive a Depression-era law separating consumer lending and investment banking.
Treasury Secretary Steven Mnuchin's upcoming report on how to rewrite financial regulation is likely to end up looking very similar to a Dodd-Frank overhaul plan in the House.
