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Obama May Tap FDIC Official for Comptroller

As officials consider a ""new candidate to head"":https://themreport.com/articles/obama-mulls-warren-substitute-2011-06-10 the Consumer Financial Protection Bureau, the Obama administration may soon nominate a state and federal banking regulator to lead the ""Office of the Comptroller of the Currency"":http://www.occ.gov (OCC).

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According to the _New York Times_, the administration may put forward Thomas Curry, a current member of the board of directors of the FDIC and a past bank commissioner for Massachusetts, to fill the role of comptroller of the currency.

Curry took a spot on the FDIC board in January 2004. Despite the expiration of his six-year term in 2010, he continues to serve in lieu of a replacement needed to fill his position and currently leads the agency's assessment appeals and case review committees as chairman.

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Prior to joining the FDIC, Curry served five Massachusetts governors as the Commonwealth's commissioner of banks from 1990 to 1991 and from 1995 to 2003, and as acting commissioner from 1994 to 1995. He has held the role of chairman of the Conference of State Bank Supervisors from 2000 to 2001 and served two terms on the State Liaison Committee of the Federal Financial Institutions Examination Council.

Currently, Curry also serves as chairman of the board of directors for NeighborWorks America, a national non-profit organization chartered by Congress to provide financial support, technical assistance, and training for community-based neighborhood revitalization efforts.

If nominated by the White House and confirmed by Congress for the comptroller of the currency position, Curry would return to the FDIC's board as a permanent member.

The _Wall Street Journal_ reported that his nomination would mark the first time the Obama administration has moved on confirmations since its other nominees withdrew their names for top positions at the Federal Reserve Board and Federal Housing Finance Agency.

""Given how difficult it has been for extremely highly qualified nominees to make it through the Senate confirmation process, I think a lot of people are reluctant,"" to take the posts, Michael Barr, a former Treasury official, told the _Journal_. ""It's hard to find good people,"" he said.

About Author: Ryan Schuette

Ryan Schuette is a journalist, cartoonist, and social entrepreneur with several years of experience in real-estate news, international reporting, and business management. He currently lives in the Washington, D.C., area, where he freelances for DS News and MReport.
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