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New Comptroller Faces Calls on True Lender, Anti-Redlining Regs

May 10, 2021, 5:01 PM

The appointment of acting Comptroller of the Currency Michael Hsu gives the Biden administration a chance to quickly implement major bank policy changes, including in areas such as fintech charters and anti-redlining rules.

Treasury Secretary Janet Yellen tapped Hsu, a former associate director in the Federal Reserve’s Division of Supervision and Regulation, to be acting head of the OCC on Friday. He takes over for Blake Paulson, a longtime OCC employee who became acting comptroller in the waning days of the Trump administration.

Because the Biden administration’s efforts to get a permanent comptroller appear to have stalled, Hsu is ...

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