Senator Sherrod Brown, the top Democrat on the Banking Committee, called it “disturbing
that the president is rushing to replace Mr. Curry with an acting appointee who has clear conflicts of interest.”
Whoever his formal successor might be — Joseph Otting, a former top executive at OneWest is reportedly under consideration — Mr. Curry’s departure signals the near-conclusion of Obama-era bank regulation, a period known for big fines
and long rules, as well as lingering concerns about the culture of an industry that has faced its share of scandals.
A few months after that, a Senate report cited the agency’s “systemic failures” that allowed a money-laundering scheme at HSBC “to fester and worsen.”
Five years and hundreds of millions of dollars in fines later — for JPMorgan, HSBC
and others — Mr. Curry is known for overhauling the agency and its approach to bank regulation.
From the London Whale to Wells Fargo, a Bank Regulator Looks Back -
By BEN PROTESSMAY 5, 2017
Thomas J. Curry’s first week as a federal banking regulator was his worst.
Soon after taking over the Office of the Comptroller of the Currency, which polices some of the nation’s largest banks, Mr. Curry learned
that JPMorgan Chase was racking up billions of dollars in losses on a risky derivatives trade in London.
