WASHINGTON, D.C.—Shayna Olesiuk, Director of Banking Policy, issued the following statement in connection with Better Markets’ new Fact Sheet, “Five Key Questions to Ask Trump’s Comptroller of the Currency Nominee” ahead of nominee Jonathan Gould’s confirmation hearing before the Senate Banking Committee this Thursday:
“The Office of the Comptroller of the Currency (OCC) supervises and oversees about 1,000 banks with $16 trillion in total assets, including megabanks with thousands of branches across the country and international activities. All Americans deserve to know whether Mr. Gould is qualified to be our next Comptroller.
“In our Fact Sheet, we raise important questions that members of Senate Banking Committee should ask Mr. Gould at the confirmation hearing. The questions are focused on the need for higher capital requirements for the largest banks to protect Main Street Americans from future megabank bailouts, how to provide the necessary oversight that banks need with a shrinking OCC workforce, the risks that looser safeguards between cryptocurrency and the banking system pose to the financial system, the insufficient merger review process, and managing the risks of bank-fintech partnerships.
“Given the numerous critical issues and challenges facing the banking system, and the fact that the Comptroller’s decisions affect all Americans and businesses, the economy, and financial stability, the importance of the nomination decision cannot be overstated. We urge the Senate Banking Committee to press Mr. Gould on these issues.”
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Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies—including many in finance—to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.org.
