by Jeff Sovern
John Dugan, a former bank lobbyist, was the Comptroller of the Currency during the George W. Bush Administration. The Office of the Comptroller of the Currency was then seen by some as an aggressive protector of banks. Among the reasons: the OCC took the position that state anti-predatory lending laws were preempted by federal law as to national banks, and when the New York State Attorney General's Office attempted to enforce fair lending laws as to national banks, the OCC litigated whether New York had the power to do so, in a case that ultimately went to the Supreme Court (Dugan had a different take). So some may find this report from Politico's Morning Money last week of interest:
THE TRUMP JOB THAT MATTERS — Bloomberg’s Jesse Hamilton and Robert Schmidt: . . . . the biggest banks are laser-focused on a little-known position that’s neither a cabinet job nor the head of a government agency: a first-ever Federal Reserve vice chairman to oversee Wall Street.
“Trump’s transition advisers are already gathering names for the post established by the Dodd-Frank Act . . . .
THE LIST includes John Dugan, a former Comptroller of the Currency who now advises banks on regulations . . . .
