The Scoop
The list of potential candidates to lead financial regulatory agencies under President-elect Donald Trump is growing, several people familiar with the names confirmed.
Current Federal Reserve Governor Michelle Bowman is being floated for the central bank’s vice chair of supervision role currently held by Michael Barr. Both Barr and Fed Chair Jerome Powell recently said they would not give up their seats if Trump, who has been at odds with them over rate decisions, requested it. Bowman turned heads for criticizing the board’s latest rate decisions, saying they cut too much on the heels of a presidential election.
Jonathan Gould, a partner at law firm Jones Day, is in the mix to lead the Office of the Comptroller of the Currency, where he previously served as the senior deputy comptroller and chief counsel. Gould also held consulting roles at BlackRock and Promontory Financial Group which have heavy connections to regulatory heads and the administration.
Todd Zywicki, a George Mason University Professor of Law, is one of several candidates to lead the Consumer Financial Protection Bureau. He was in charge of an agency task force in 2020, the same year the Supreme Court gave the president legal authority to fire a CFPB director at will. Zywicki has recently voiced opposition to Democratic-backed proposals to tighten banking laws.
Gould declined to comment. Bowman and Zywicki didn’t immediately respond to requests for comment.
Know More
The names are among a list of other potential candidates that Semafor reported Tuesday, including FDIC board member Jonathan McKernan, who may be tapped for the Federal Housing Finance Agency, and former FDIC Chair Jelena McWilliams, who is also on the roster for the Fed vice chair of supervision seat. It’s also possible that she’d be tapped for a senior position at the Treasury Department, people familiar with the matter said.