This 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