Joseph Otting could replace Thomas Curry as Comptroller of the Currency

Keith Noreika, a banking lawyer at Simpson Thacher & Bartlett LLP, is being considered as an acting comptroller.

The Wall Street Journal has reported that the Trump administration plans on replacing Thomas Curry as the Comptroller of the Currency.

Although the person who will replace Curry has yet to be named, several sources familiar with the matter at hand have stated the change could happen as soon as this week.

The Office of the Comptroller of the Currency (OCC) oversees the federal banking system and administers hundreds of bank supervisors stationed in large U.S. financial firms.

Appointed by the Obama administration for a term of 5 years, Curry could remain in the role until his successor is identified and appointed.

Among the contenders for the post is Joseph Otting, a former banker at OneWest Bank who has worked with Steven Mnuchin, the Treasury Secretary.

The Journal has reported that Keith Noreika, a banking lawyer at Simpson Thacher & Bartlett LLP, is being considered as an acting comptroller.

Noreika was part of Trump’s transition team for Treasury. In 2008, he had also advised the Treasury on its $250 billion Troubled Asset Relief Program TARP.

The OCC and the White House were not immediately available for comment.

Noreika did not immediately respond to requests for comment.

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