Senator Sherrod Brown, the top Democrat on the Banking Committee, called it “disturbing<br />that the president is rushing to replace Mr. Curry with an acting appointee who has clear conflicts of interest.”<br />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<br />and long rules, as well as lingering concerns about the culture of an industry that has faced its share of scandals.<br />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.”<br />Five years and hundreds of millions of dollars in fines later — for JPMorgan, HSBC<br />and others — Mr. Curry is known for overhauling the agency and its approach to bank regulation.<br />From the London Whale to Wells Fargo, a Bank Regulator Looks Back -<br />By BEN PROTESSMAY 5, 2017<br />Thomas J. Curry’s first week as a federal banking regulator was his worst.<br />Soon after taking over the Office of the Comptroller of the Currency, which polices some of the nation’s largest banks, Mr. Curry learned<br />that JPMorgan Chase was racking up billions of dollars in losses on a risky derivatives trade in London.
