Obama to tap Curry, Miller to top financial posts

Reuters News
Posted: Jul 01, 2011 3:18 PM
Obama to tap Curry, Miller to top financial posts

By Dave Clarke

WASHINGTON (Reuters) - The White House plans to announce on Friday that President Obama will nominate Thomas Curry to head the Office of the Comptroller of the Currency, a White House official said.

The official also said Obama would nominate Mary Miller to become Treasury Undersecretary for Domestic Finance.

Curry is a member of the Federal Deposit Insurance Corp board, a position he has held since 2004.

The OCC regulates the nation's largest banks and the top job at the agency has been vacant since August, when John Dugan left the post.

Among the banks that fall under OCC's supervision are Bank of America Corp, Citigroup and JPMorgan Chase & Co.

Curry joined the FDIC in 2004 after serving as the Massachusetts Commissioner of Banks for several years.

He is a registered independent but was a registered Democrat between 1993 and 1999, according to disclosure forms he filed with the Senate in 2003, when his nomination to join the FDIC was being considered.

Miller, currently Treasury's assistant secretary for financial markets, is in charge of managing the country's public debt. She will be nominated to the broader role as Congress and the administration struggle to hash out a deal to raise the $14.3 trillion debt ceiling and rein in government spending.

Should she win approval by the U.S. Senate, the former fixed-income director at T. Rowe Price Group Inc would help lead the charge to reorder the financial system and rework the country's housing policy.

(Reporting by Dave Clarke, additional reporting by Rachelle Younglai: Editing by Tim Dobbyn and Gerald E. McCormick)