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WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced that Ted Dowd will serve as Acting Senior Deputy Comptroller and Chief Counsel, effective April 8, 2024. Mr. Dowd will serve in this position while the agency initiates a search for a successor to Ben McDonough, who will be taking a position at another agency.

Mr. Dowd joined the OCC in 2006 and has served as Deputy Chief Counsel since 2018. In this position, he is responsible for a broad range of legal matters related to bank powers and structure, financial technology, and licensing transactions. Mr. Dowd is also responsible for overseeing the operations of all OCC district counsel offices.

“Ted’s extensive background in banking law and regulation at the OCC, combined with his leadership on interagency and OCC initiatives, will ensure continuity and excellence in our Chief Counsel’s office while we search for Ben’s successor,” said Acting Comptroller of the Currency Michael J. Hsu. “I want to recognize Ben’s outstanding and steady leadership as Chief Counsel and a member of our Executive Committee. His dedication and commitment to the OCC and to doing things right have served the American people well. Ben has left an indelible impact on the agency, and I wish him the best in his new role.”

Mr. McDonough has served as OCC Chief Counsel since June 2021 and will begin his new position on April 8, 2024.