Reserve vice chairman for bank supervision. Idaho senator mike crapo is chair of the banking committee. Thank you very much. And would the witnesses for our hearing please come and take their seats and while theyre doing that, senator shelby cant be here for his questioning time and so hes asked for just like a minute to make a quick statement. Ill be real quick today. I just want to say i wont be here. Ive got to preside over a appropriation hearing. But i believe that president has sent twous two good nominees. One we waited a long time for the vice chairman for the supervision of the fed. I think these are outstanding nominees. I hope you the hearing goes well and we can expedite the nominees and get them in place. Thank you. Thank you, senator shelby. All right. The hearing will come to order. This morning well consider the nominations of mr. Joseph otting to be comptroller of the currency and randal quarrels to be a member of the board of governors of the Federal Reserve system an
Reserve vice chairman for bank supervision. Idaho senator mike crapo is chair of the banking committee. Thank you very much. And would the witnesses for our hearing please come and take their seats and while theyre doing that, senator shelby cant be here for his questioning time and so hes asked for just like a minute to make a quick statement. Ill be real quick today. I just want to say i wont be here. Ive got to preside over a appropriation hearing. But i believe that president has sent twous two good nominees. One we waited a long time for the vice chairman for the supervision of the fed. I think these are outstanding nominees. I hope you the hearing goes well and we can expedite the nominees and get them in place. Thank you. Thank you, senator shelby. All right. The hearing will come to order. This morning well consider the nominations of mr. Joseph otting to be comptroller of the currency and randal quarrels to be a member of the board of governors of the Federal Reserve system an
Appropriation hearing but i believe the president has sent us two good nominees. We waited a long time on the vice chairman, supervision for the fed. I hope the hearing goes well and we can expedite these nominees and get them in place, thank you. Thank you, senator shelby. The hearing will come to order. We will consider the nominations for the comptroller of currency, joseph otting and Randal Quarles to be a member of the board of governors of the Federal Reserve system and vice chairman for supervision of the board of governors of the Federal Reserve system. Welcome to both of you and congratulations on your nominations to these offices. You have friends and family sitting with you and welcome them here as well. These positions are critically important to assure a safe, sound, vibrant Financial System. We are fortunate have two qualified individuals to consider for these posts. Joseph otting bring particular understanding of the Banking System from a long career in national service.
Particularly those aimed at dealing with those who sponsor terrorism. We also have sanctions against countries that are violating our International Norms on democratic principles. Russia is top on that list. And im going to ask you questions for the record as to your views on the current sanctions and strengthening sanctions. Bipartisan legislation to strengthen the sanctions, particularly with russias attack against americas democratic election institutions. But i want to make sure i understand. You are committed to enforcing the sanctions against russia. 100 so. And i think the president elect has made it very clear that he would only change those sanctions if he got, quote, a better deal and we got something in return, whether it was on nuclear arms or other areas. But yes, senator. And in response to the question that was asked about using the irs, make sure it was not used for partisan reasons, you will enforce these sanctions without regard to a persons Party Affiliation or offic
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