Foreclosures

Trump chooses regional banker as key regulator of US banks

President Donald Trump has chosen a regional banker as his nominee for a key government position in bank regulation.

Trump announced late Monday he is naming Joseph Otting as comptroller of the currency, heading a Treasury Department agency that is the chief overseer for federally chartered banks. If confirmed by the Senate, Otting will play a role in the Trump administration's efforts to ease rules written under the Dodd-Frank law that stiffened financial regulation after the 2008-09 crisis.

The Office of the Comptroller of the Currency charters and supervises national banks and savings and loans. The agency has hundreds of bank examiners, many of them working inside the...

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