Davis Polk partner and Financial Institutions practice head Margaret Tahyar was quoted in American Banker discussing Michael Hsu and his three-year tenure as the acting Comptroller of the Office of the Comptroller of the Currency. The article notes that holding the position for such a duration without being nominated for the permanent job may be an indicator that banking regulatory positions are more difficult to fill because of heightened partisanship.

Margaret said that kind of political pressure obscures what should be the most important consideration for lawmakers when mulling a potential regulatory appointment, which is whether the nominee is competent and capable of running their agencies.

“The irony of it all is that Mike has been doing a great job,” she said.

“What Hsu’s ‘unprecedented’ tenure at OCC says about banking policy,” American Banker (August 28, 2024) (subscription required)

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