Trump ready to pick top bank regulator

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President Trump is anticipated to nominate former U.S. Treasury undersecretary Randy Quarles to serve as the Federal Reserve’s vice chairman of supervision.

Quarles, who would be the Federal Reserve’s top bank regulator, was the undersecretary for domestic finance under former President George W. Bush.

He is currently a managing director at The Cynosure Group, an equity investment firm.

The position was created as part of the Dodd–Frank Wall Street Reform and Consumer Protection Act in 2010 but was never filled under former President Obama’s administration.

Mr. Quarles has reportedly not yet met with the president but is expected to do so in the coming days.

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