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President nominates first-ever regulatory watchdog for Fed

Joe Mont | July 12, 2017

President Trump has nominated Randal Quarles, a former official at the Treasury Department, to fill a long-vacant role at the Federal Reserve.

Quarles, a resident of Colorado, was nominated to be a Member of the Board of Governors of the Federal Reserve System for the remainder of a 14-year term expiring January 31, 2018. He was also named to an additional 14-year term (expiring January 31, 2032) and to be vice chairman for supervision of the Federal Reserve System for a term of four years.

If confirmed by the Senate, Quarles would be the first ever supervision chief for the Federal Reserve, overseeing the agency’s regulatory agenda. That role was created by the Dodd-Frank Act, but lingered unfilled (much to the consternation of Republican legislator) throughout the Obama Administration.

Quarles has had an extensive career in...

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