Trump announces Quarles as top bank cop

Posted online July 11, 2017 | 11:26 am

President Donald Trump announced he would nominate former Treasury official Randal Quarles as the Federal Reserve's regulatory chief.

The selection of Quarles is the first formal nomination for the Fed vice chairman of supervision. The position was created by the 2010 Dodd-Frank Act.

Former Fed Gov. Daniel Tarullo informally filled the job during much of the interim.

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