Comptroller of the Currency and Federal Reserve Nominations
The Senate Banking and Housing and Urban Affairs Committee held a confirmation hearing or comptroller of currency nominee Joseph Otting and Federal Reserve Board nominee Randal Quarles. Democratic senators pressed both nominees on the 2008 financial crisis. Mr. Otting previously served as president and CEO of OneWest Bank. Under his tenure, federal regulators took action against the bank that forced a review of its foreclosure practices. Mr. Quarles served from 2005-06 as the treasury undersecretary for domestic finance.