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Trump to Nominate Randal Quarles as Federal Reserve Regulatory Chief

July 11, 2017

Ending months of speculation, the White House announced that Donald Trump will nominate Randal Quarles to the Federal Reserve board, to serve as the Federal Reserve Vice Chair and first ever Federal Reserve regulatory chief - a position created by Dodd-Frank.

 

Mr. Quarles would sit on the central bank’s 7-member Board of Governors, meaning the role gets a vote on U.S. interest rates. It’s believed that Quarles, in that role, might pursue a measured approach to revamping bank rules implemented under the 2010 Dodd-Frank Act, rather than a wholesale dismantling of them.

 

Click here - Financialish - 4/18/17 - for a summary of Mr. Quarles credentials. One additional credential worth noting: Since 2015, Randal Quartles has served on the FINRA Board of Governors and currently chairs its Management Compensation Committee.

 

As noted in yesterday's Financial.com posting, "Compensation for FINRA Top Executives," the pay scale for FINRA senior management has been a source of contention for some time.