Sometime in September, Thomas J. Curry, former Massachusetts commissioner of banks, could be confirmed by the U.S. Senate as U.S. Comptroller of the Currency.
Banking experts here say Curry’s selection by the Obama administration is a good one, and Curry is all but a lock for the job. But that doesn’t mean the remainder of the road is smooth.
"He’s an excellent public servant," said Cornelius Hurley, director of the Center for Finance, Law & Policy at Boston University. "But the political atmosphere in Washington is so poisoned that even good people don’t get confirmed."
Hurley said if Massachusetts Institute of Technology professor and Nobel Prize winner Peter Diamond, who in June withdrew his nomination to serve on the Federal Reserve Board of Governors amid Republican opposition, can’t get confirmed, all Obama nominees should be worried.
State Commissioner of Banks David Cotney said Curry would bring welcome experience to the OCC.
Curry, he said, "has experience regulating mutuals, and the OCC has no experience regulating the former OTS mutuals."
Curry was commissioner of banks during the administrations of five governors, first from 1990 to 1991 and again from 1995 to 2003.
Last year, he completed a six-year term on the Federal Deposit Insurance Corp.’s board of directors.