September 7, 2017

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FSR: OCC, Federal Reserve Vice Chair for Supervision Nominees Should Get Swift Confirmation by Full Senate

It’s critical for financial regulatory agencies to have seasoned and stable leadership that will focus on economic growth while also protecting consumers and taxpayers.

FSR: OCC, Federal Reserve Vice Chair for Supervision Nominees Should Get Swift Confirmation by Full Senate
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FSR: OCC, Federal Reserve Vice Chair for Supervision Nominees Should Get Swift Confirmation by Full Senate

 

WASHINGTON – The Financial Services Roundtable (FSR) today commended the Senate Banking Committee for moving forward the nominations of Randal Quarles for Federal Reserve Vice Chair for Supervision and Joseph Otting for Comptroller of the Currency, both who have deep business and public service experience.

“It’s critical for financial regulatory agencies to have seasoned and stable leadership that will focus on economic growth while also protecting consumers and taxpayers,” said FSR CEO Tim Pawlenty. “The full Senate should quickly approve Otting and Quarles to put that leadership into place.”

FSR looks forward to working with these regulators on matters such as tailoring the regulatory system, adjusting capital standards for America’s banks with the goal of growing the economy and protecting taxpayers, matters around financial technology and increasing transparency and accountability to the process relating to bank stress test and “living wills.”

 

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The Financial Services Roundtable represents the largest integrated financial services companies providing banking, insurance, payment and investment products and services to the American consumer. Member companies participate through the Chief Executive Officer and other senior executives nominated by the CEO. FSR member companies provide fuel for America’s economic engine, accounting for $92.7 trillion in managed assets, $1.2 trillion in revenue, and 2.3 million jobs.

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