Trump wanted to appoint Keith Noreika, a Wall Street financial services lawyer who has worked closely with the same Wall Street companies that the OCC regulates. The head of the OCC, however, is a position that the Senate must confirm, and Noreika’s past work has left him with substantial financial and ethical conflicts of interest.
So Trump and his Treasury Secretary, Steven Mnuchin, came up with a way to do it without any potential embarrassment:
Appoint Noreika as “first deputy” at the OCC.
Fire the current head of the OCC.
Noreika automatically became “acting comptroller,” with no Senate
hearings or confirmation, no disclosure of his former clients, and no