To the editor:
It has been three years since the nation has had a confirmed comptroller of the currency. As we face the heat of, at best, a smaller banking crisis, it is critical this crucial office, established during the Lincoln administration, be led by someone formally nominated by the president and approved by the Senate. The financial markets have become increasingly volatile. Three important American banks have failed over the last several months. There is no time to lose.
Fortunately, since the beginning of the Biden administration, America has benefited from the leadership of
Having run the agency at one time myself, I can attest to the fact that nomination and confirmation are powerfully important. A confirmed comptroller is able, much more expeditiously, to pursue a proactive agenda, both when coordinating with other agencies of government and when dealing with the banking institutions the office supervises.
Mr. Hsu is a longtime civil servant with senior bank supervisory experience and an admirable record. He has not pursued his job in a partisan way, and he certainly is not a political figure. I hope the president will nominate him formally and the Senate will confirm his appointment expeditiously. Barring that, I hope another talented candidate can be nominated and confirmed in short order.
