ABA Statement on OCC and CFPB Nominations

“We congratulate Jonathan Gould on his nomination to serve as comptroller of the currency. His prior experience at the OCC – as well as his time as a top staffer on the Senate Banking Committee and as a financial regulatory attorney – will serve him well as the agency continues its important mission to promote a resilient and healthy national banking system. We look forward to working with Gould to put in place a rational regulatory framework that ensures banks can continue to meet the needs of their customers, clients and communities.

“We also congratulate Jonathan McKernan on his nomination to serve as the next director of the Consumer Financial Protection Bureau. His experience at the FDIC, FHFA, Treasury and on the Hill make him an excellent choice to lead the Bureau in a new direction. While our members share the CFPB’s mission to protect consumers, it’s time for the Bureau to operate within the statutory guardrails established by Congress, pursue policies that actually help Americans looking for financial products and services, and promote responsible innovation. We are hopeful that McKernan’s nomination marks an important turning point for the Bureau.

“We look forward to working with the OCC and CFPB to ensure financial regulation is properly tailored and applied evenly to all market participants so America’s banks can continue playing their essential role in driving economic growth.”