Secretary Janet Yellen of the US Department of the Treasury has made Michael Hsu Acting Comptroller of the Currency, pursuant to 12 USC 4.

Blake Paulson, who has served as Acting Comptroller since 14 January, is returning to his old job as the Senior Deputy Comptroller and Chief Operating Officer of the agency.

Before he joined the OCC, Hsu served as an Associate Director in the Division of Supervision and Regulation at the Federal Reserve Board of Governors. There, he led the Large Institution Supervision Co-ordinating Committee Programme, which supervises banking companies that operate in the United States which are of paramount importance to the global economic system. He served at the International Monetary Fund, the US Department of the Treasury and the Securities and Exchange Commission. He began his career in 2002 as a staff attorney in the Federal Reserve Board’s Legal Division. He holds a bachelor of arts degree from Brown University, a masters of science in finance from George Washington University, and juris doctor degree from New York University School of Law.