Senate confirms Gould as OCC head

The Senate confirmed Jonathan Gould as comptroller of the currency this week by a 50-45, party-line vote. .Gould, who is expected to serve a five-year term, is the first confirmed head of the agency since 2020. He replaces Rodney Hood, who served in an acting capacity over the past few months. Michael Hsu was acting comptroller from 2021-25 during the administration of former President Joe Biden. President Donald Trump nominated Gould to the position in February. Gould, senior deputy comptroller and chief counsel of the OCC from 2018-21, was most recently a partner at Washington, D.C.-based law firm Jones Day. He has also been a top staffer at the Senate Banking Committee. During his Senate confirmation hearing in March, Gould said he wants to ensure national banks support the economy and end the politicization of the banking system. He also spoke of improving bank supervision and embracing innovation within the agency. Gould, who has expressed support for crypto, said banks must be allowed to engage in “prudent risk-taking.” Bank regulators have sometimes tried to eliminate rather than manage risk, leading to banks having a harder time serving their communities, he added. Gould supports the OCC’s decision to end reputational risk exams earlier this year. He said the practice was often improperly used to achieve political goals. The American Bankers Association issued a statement following Gould’s confirmation. “We look forward to working with Comptroller Gould on a number of important regulatory issues in the years ahead, including advancing a rational regulatory framework that promotes a resilient and healthy national banking system and upholding the OCC’s commitment to national bank preemption,” said President and CEO Rob Nichols. “We also thank Acting Comptroller Rodney Hood for his service over the past several months.”Consumer Bankers Association President and CEO Lindsey Johnson also expressed positive sentiments. “Mr. Gould’s experience across both the public and private sectors gives him a well-rounded perspective and deep credibility at a time when a pragmatic approach to bank regulation is essential,” she said.