President Donald Trump nominated former Senior Deputy of the Office of the Comptroller of the Currency (OCC) Jonathan Gould to take over as head of the banking agency. The financial services industry expressed support for the nomination, given his tenure as a federal regulator and more than a decade of private sector experience.
Gould served as the OCC’s senior deputy comptroller and chief counsel from 2018 to 2021 during the first Trump administration, during which time he was instrumental in implementing the Economic Growth Regulatory Relief and Consumer Protection Act, intended to reduce regulatory burdens on financial institutions related to the Dodd-Frank Act.
“Mr. Gould understands the complexities of the current financial landscape and the need for regulators to work productively with industry to meet the needs of the consumers we both serve,” Consumer Bankers Association (CBA) President and CEO Lindsey Johnson said in a statement. “If confirmed, we look forward to working with Mr. Gould and the OCC as the industry continues to strengthen the banking system to expand opportunities for businesses and consumers alike.”
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement asserting her organization looks forward to working with Gould on implementing priorities detailed in ICBA’s “Repair, Reform, and Thrive” plan.
“The OCC serves a critical role in ensuring a safe and sound national banking system that serves local communities and the nation’s economy,” Romero Rainey said. “ICBA continues to encourage policymakers in Washington to address excessive regulatory burdens on community banks and ensure a level regulatory playing field between banks and nonbank entities to support a secure environment for consumers and the financial system.”
Echoing Johnson’s and Romero Rainey’s confidence in Gould’s expertise was American Bankers Association (ABA) President CEO Rob Nichols.
“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,” he said in a statement. “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.”
Nichols added that ABA is excited to work with Gould and former Federal Deposit Insurance Corp. (FDIC) Director Jonathan McKernan – the Trump administration’s nominee to be the new permanent director of the Consumer Financial Protection Bureau – to help “ensure financial regulation is properly tailored and applied evenly to all market participants” and to drive economic growth.