WASHINGTON – The Senate on Thursday approved Randal Quarles for a post on the Federal Reserve Board, marking President Donald Trump's first imprint on the central bank and his first full-time appointment of a banking regulator.
Continue Reading Below
The vote on Mr. Quarles was 65-32. A former Treasury Department official, investor, and banking lawyer, Mr. Quarles is expected to oversee the Fed's work on a broad review of banking-sector rules with an eye toward rolling back some restrictions.
He will be the Fed's first vice chairman in charge of bank oversight. The Senate separately approved that designation by a voice vote Thursday, making him the first Fed governor to formally have a role created by the 2010 Dodd-Frank financial law.
Write to Ryan Tracy at email@example.com
(END) Dow Jones Newswires
October 05, 2017 11:12 ET (15:12 GMT)