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From Banking and Finance Law Daily, May 3, 2017

Experienced banking attorney to be Acting Comptroller, First Deputy

By Richard A. Roth, J.D.

Keith A. Noreika will be appointed First Deputy Comptroller of the Currency, according to Treasury Secretary Steven T. Mnuchin. Noreika also will become Acting Comptroller of the Currency when Thomas J. Curry leaves office, which is scheduled for May 5, 2017, the Treasury Department said.

Under the National Bank Act, the Comptroller is to be appointed by the President and is subject to Senate review and confirmation. The Treasury Secretary can appoint up to four deputy comptrollers, who are not subject to Senate confirmation. One of the four is to be designated First Deputy, the position Noreika will fill. President Donald Trump has not yet nominated a permanent replacement for Curry, and Noreika will serve as Acting Comptroller until that nomination is made and confirmed.

Experience. Prior to his appointment, Noreika was a partner and head of the Financial Institutions Regulatory Practice at Simpson, Thatcher & Bartlett LLP. Previously, he was a partner at Covington & Burling, LLP. He has been an adjunct faculty member at the University of Pennsylvania School of Law and the University of Virginia School of Law, and he is a Harvard Law School graduate.

Prior to private practice, Noreika clerked at the U.S. Court of Appeals for the Fifth Circuit. In practice, he has advised banks on Volcker Rule, Bank Secrecy Act, and consumer protection regulation compliance, and he has dealt with all of the federal banking regulatory agencies, according to an OCC press release.

Companies: Covington & Burling, LLP; Simpson, Thatcher & Bartlett LLP

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