Randal Quarles, Trump's First Fed Nominee, Wins Senate Approval

By Ryan Tracy Features Dow Jones Newswires

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.

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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 ryan.tracy@wsj.com

(END) Dow Jones Newswires

October 05, 2017 11:12 ET (15:12 GMT)