Bankers can’t wait for Donald Trump’s nominee for Treasury Secretary, Scott Bessent, to take control. If he is confirmed, Bessent will oversee a variety of agencies—including the IRS and the Bureau of Alcohol, Tobacco, and Firearms. But for the financial sector, his arrival will mean changes at the Office of the Comptroller of the Currency, which wields massive influence over what S&P Global estimates is $24 trillion in assets controlled by U.S. banks.
As Treasury Secretary, Bessent would be expected to support policies Trump says will make America more competitive, stop “unfair” trade imbalances, and create an economy that prioritizes growth above all else.
