Trump to replace top banking regulator: report

President Trump is reportedly planning to replace Comptroller of the Currency Thomas Curry.

The Wall Street Journal reported that the president could replace Curry with an acting head of the agency as soon as this week.

That official would serve in the role until a new comptroller is confirmed.

Curry was appointed by former President Barack Obama. His five-year term expired in April, but he can continue to serve in the role until he is replaced.

{mosads}Joseph Otting, a former banker, is reportedly being considered for comptroller of the currency. Otting worked with Treasury Secretary Steven Mnuchin at OneWest Bank.

Keith Noreika, a banking lawyer at Simpson Thacher & Bartlett LLP, is being considered to serve as acting comptroller, according to the Journal.

Trump said Monday he is considering breaking up major Wall Street banks and could support bringing back a Depression-era law known as Glass-Steagall that separated consumer and investment banking.

“I’m looking at that right now,” Trump told Bloomberg News. “There’s some people that want to go back to the old system, right? So we’re going to look at that.”

Trump’s comments to Bloomberg come as both the White House and House Republicans take aim at the Dodd-Frank Act, a sweeping financial reform law passed after the Great Recession.

Trump has signed several executive orders directing Mnuchin to research which parts of Dodd-Frank should be amended or eliminated.