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The Week Ahead: HUD, Treasury, and Fed Nominations

SenateThis week, the Department of Housing and Urban Development (HUD), Federal Reserve System, and Department of the Treasury have a scheduled spot on the Senate calendar for key nominations in their departments.

Paul Compton, Jr. of Alabama will be nominated to the General Counsel of HUD since the resignation of Helen R. Kanovsky; Joseph Otting of Nevada will be nominated to the position of Comptroller of the Currency for a term of five years since the term expiration of Tomas J. Curry; and Randal Quarles of Colorado will be nominated for reappointment to be a Member of the board of Governors of the Federal Reserve System for the term of 14 years from February 1, 2018.

Because of his history at OneWest, a regional bank with part ownership from Treasury Secretary Steven Mnuchin, Otting has been in the hot seat in regards to his possible new position. Democrats have discussed various customers who suffered from foreclosures and were treated poorly.

In last weeks vote, Sherrod Brown (D-Ohio) said he was concerned that Otting and Quarles are more interested in serving Wall Street rather than the public saying, “"The White House looks like a retreat for Wall Street executives.”

The Senate nominations are scheduled for Tuesday, October 10.

 

Other events in the week ahead:

Bank Reserve Settlement, Wednesday, 2 p.m. EST

FOMC Minutes, Wednesday, 2 p.m. EST

JPMorgan Chase Q3 2017 Earnings, Thursday 8:30 a.m.

Treasury Budget, Thursday, 2 p.m. EST

Fed Balance Sheet, Thursday, 4:30 p.m. EST

Bank of America Q3 2017 Earnings, Friday 6:45 a.m.

Consumer Price Index, Friday, 8:30 a.m. EST

Consumer Sentiment, Friday, 10 a.m. EST

 

About Author: Brianna Gilpin

Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation's leading diversified media and information services companies. To contact Gilpin, email [email protected].
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