The Senate Banking Committee today voted along party lines to advance the nomination of former FDIC board member Jonathan Gould to be comptroller of the currency. It also voted to advance the nomination of Paul Atkins to be chair of the Securities and Exchange Commission. Both votes were 13-11.
During his nomination hearing last week, Gould emphasized that banks “must be allowed to engage in prudent risk-taking” if the U.S. economy is to remain robust and dynamic.
“In the years since 2008, bank regulators have at times tried to eliminate rather than manage risk, frustrating the ability of banks to fulfill their function,” said Gould, who is also former chief counsel at the Office of the Comptroller of the Currency. “This blinkered approach to risk management has implications for the cost and availability of credit, the system’s ability to absorb shocks, and its adoption of new technologies and embrace of innovation.”
The OCC is currently led by Acting Comptroller Rodney Hood.
The committee also advanced the nominations of Luke Petit to be assistant secretary of the Treasury and Marcus Molinaro to be federal transit administrator at the Department of Transportation.
