Comptroller, Fed supervision leader recommended for confirmation

Nominations for Comptroller of the Currency and Federal Reserve vice chairman for supervision were recommended for confirmation to the full Senate Thursday by the Senate Banking Committee on split votes. The committee recommended, 13-10, that Joseph Otting be confirmed as comptroller; one Democrat, Sen. Heidi Heitkamp (N.D.) joined all Republicans in voting for the recommendation. The vote for Randal Quarles to be Fed supervision vice chairman was 17-6, with several Democrats joining all Republicans. No date has been set for full Senate consideration of the nominations. Otting, if confirmed, would replace Acting Comptroller Keith Noreika, who has been in office since May. Quarles would be the first to fill the post of supervision vice chairman if confirmed.