Jonathan Gould Confirmed as New OCC Head After Senate Vote

Jonathan Gould, the former chief legal officer of blockchain infrastructure company Bitfury, has been confirmed as the new head of the US Office of the Comptroller of the Currency (OCC) following a Senate vote. The confirmation came after a 50-45 vote in the Senate, marking a significant shift in the leadership of a crucial US banking regulator. Gould's appointment is notable not only for his extensive experience in both the public and private sectors but also for his background in the fintech and digital asset sectors, which are increasingly important in the banking industry.

Gould's career includes a stint as a partner at the Cleveland-based law firm Jones Day and a previous role as the OCC’s senior deputy comptroller and chief counsel from 2018 to 2021. His experience in managing legal functions, licensing activities, enforcement, litigation, and regulatory initiatives positions him well to lead the OCC, which oversees national banks and federal savings and loan associations. His confirmation brings stability to the OCC, which has been without a permanent comptroller since May 2020 and has seen four acting comptrollers in that time.

Industry leaders have welcomed Gould's confirmation, highlighting his measured approach to banking supervision and his deep understanding of the fintech and digital asset sectors. The Mortgage Bankers Association (MBA) President and CEO Bob Broeksmit expressed confidence in Gould's ability to ensure safety and soundness in the banking system without imposing overly complex or burdensome regulatory oversight. Similarly, the Consumer Bankers Association President and CEO Lindsey Johnson praised Gould's well-rounded perspective and deep credibility, noting the importance of a pragmatic approach to bank regulation.

Gould's experience at Bitfury and his involvement in significant reform activities related to fintech and digital asset chartering initiatives during his previous stint at the OCC further underscore his qualifications for the role. His appointment is expected to bring a fresh perspective to the regulatory framework, with a focus on promoting innovation while ensuring the safety and soundness of the banking system. As the OCC continues to play a crucial role in regulating and supervising national banks and federal savings and loan associations, Gould's leadership is poised to shape the future of banking regulation in the United States.