Former bank CEO Joseph Otting was sworn in Monday as the country's top regulator of national banks.
Otting succeeds Keith Noreika, who served since May as acting comptroller of the currency.
During Noreika’s short tenure atop the Office of the Comptroller of the Currency, he took numerous stances that drew cheers from bankers, including his opposition to a proposed ban on mandatory arbitration clauses. Otting is expected to support a similar industry-friendly agenda.
Otting is widely expected to continue Noreika’s push to roll back Obama-era initiatives that placed greater emphasis on consumer protection.
Read more in American Banker.