Fed announces Quarles to step away from internal regulatory lead role as vice-chair term expires

Investing.com | Oct 12, 2021 at 10:01 PM
  • The Federal Reserve said on Tuesday that Vice Chair for Supervision Randal Quarles would no longer lead the internal committee overseeing bank rules and supervision, as his term as the central bank’s top regulatory official expires on Wednesday.
  • The announcement provides some clarity on how the Fed will handle regulatory matters going forward, as Quarles’ term as the central bank’s top regulatory official ends.
  • The Fed’s internal committee in charge of regulatory matters was run by Quarles, and included Fed Governors Lael Brainard, a Democrat, and Michelle Bowman, a Republican.