Apr 19, 2017
President Donald Trump plans to nominate Randal Quarles, who was a Treasury official during the Bush administration, to be the Federal Reserve’s top banking regulator. Quarles is an international lawyer and financier that is considered friendly to the big banks.
As Bloomberg business news noted, “Quarles would be expected to play a pivotal role in carrying out Trump’s pledge to ease some of the regulatory constraints that were put on banks after the 2008 financial crisis. The selection would reflect 'the pendulum shifting from tougher regulation to neutral,' said, Mike Mayo, an independent bank analyst."