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Trump OCC pick bullish for banks - Cowen

Published 05/03/2017, 01:24 PM
Updated 05/03/2017, 01:24 PM
© Reuters.  Trump OCC pick bullish for banks - Cowen
  • via Bloomberg
  • The choice of Keith Noreika as interim OCC boss means the door's open to easing limits on commercial real estate, construction and development lending, leveraged loans, and M&A, says Cowen's Jaret Seiberg.
  • It's particularly bullish, says Seiberg, as it indicates the Trump administration is taking a more typical Republican route of easing regulation, rather than the more populist tone that's making all the headlines.
  • Noreika could be there awhile, as expected OCC nominee Joseph Otting may face a lengthy confirmation process. Otting was the former CEO of OneWest Bank, and one can imagine Sen. Warren dragging in OneWest foreclosure victims to tell their tale.
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  • Now read: Thoughts On Glass-Steagall, Once Again


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