He started his career in 2002 as a staff attorney in the Federal Reserve Board's Legal Division. At the Fed, he led the Large Institution Supervision Coordinating Committee (LISCC) Program.[3]
Secretary of the TreasuryJanet Yellen designated Hsu as First Deputy Comptroller on May 10, 2021, making him the Acting Comptroller of the Currency.[1] On November 23, 2021, he announced that banks would not be allowed to provide certain cryptocurrency services unless they met several regulations.[4]
In July 2024, he defended federal preemption of banking regulation over state regulations, which was praised by the American Bankers Association.[5]
Citing the collapse of Synapse, in October 2024, he endorsed federal oversight of digital payments, saying there was a regulatory gap.[6]
In November 2024, as Acting Comptroller of the Currency, Hsu warned against regulators allowing "too much leeway" in AI applications for financial firms and banks, saying that regulators and firms should "co-learn" the technology.[7]
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