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.
Despite an effort by the Trump administration to defund government aid for community development funding institutions, the Senate approved a budget deal that included $258 million in funding for the CDFI fund.
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 president may soon replace Thomas Curry as bank regulator with an interim appointment; Supreme Court says city can sue B of A and Wells Fargo over predatory lending.
President Trump is likely to replace Comptroller of the Currency Thomas Curry with an acting comptroller as soon as this week, according to the Wall Street Journal.
During a meeting with more than a hundred community bankers on Monday, Trump administration officials made it clear they favored a system with different rules for small and big banks.
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.
