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Obama Names FDIC’s Curry to Head OCC, Miller to Treasury Post

Obama Said to Name FDIC’s Curry as Currency Comptroller
Thomas Curry, director of the U.S. Federal Deposit Insurance Corp. (FDIC). Photographer: Joshua Roberts/Bloomberg

July 1 (Bloomberg) -- President Barack Obama has decided to nominate Thomas Curry as comptroller of the currency and Mary Miller to serve as undersecretary of domestic finance at the Treasury Department, according to a White House statement.

“I am proud to nominate such impressive men and women to these important roles, and I am grateful they have agreed to lend their considerable talents to this administration,” Obama said today in a statement announcing the selections of Curry and Miller among nominees for five posts.

Curry, a Federal Deposit Insurance Corp. board member since 2004, would serve a five-year term as comptroller if confirmed by the Senate. He would continue to serve on the FDIC board as comptroller. Miller, assistant secretary for financial markets at Treasury since February 2010, also needs Senate approval.

Obama’s choice of Curry follows lawmakers’ calls for new leadership at the Office of the Comptroller of the Currency after Acting Comptroller John Walsh questioned whether new rules might hurt banks. Senators including Democrats Jack Reed of Rhode Island and Sherrod Brown of Ohio sent letters urging Walsh’s ouster after the June 21 comments in a London speech.

The OCC has also been faulted by officials, including Treasury General Counsel George Madison, who say the agency ignored the intent of the Dodd-Frank Act in a proposal for rules governing when state consumer-protection laws can be trumped by federal powers. The OCC, an independent bureau within the Treasury Department, oversees national banks.

Massachusetts Regulator

Before joining the FDIC, where he is chairman of the assessment appeals and case review committees, Curry was Massachusetts commissioner of banks under five governors between 1990 and 2003, according to his biography on the FDIC Web site. A graduate of Manhattan College and New England College of Law, he joined Massachusetts government in 1982 as an attorney with the Secretary of State’s Office.

A former chairman of the Conference of State Bank Supervisors, he currently serves as chairman of the board for NeighborWorks America, a non-profit housing and community development group.

Miller joined Treasury after 26 years at T. Rowe Price Group Inc., most recently as the director of the fixed income division. She holds a bachelors’ degree from Cornell University and a master’s degree from the University of North Carolina at Chapel Hill.

To contact the reporter on this story: Lorraine Woellert in Washington at

To contact the editor responsible for this story: Lawrence Roberts at

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