Posted July 11, 2017
The White House has announced that it will nominate Randal Quarles to fill a vacant seat on the Federal Reserve’s Board of Governors as vice chair overseeing the banking system.
Quarles would take the lead on rolling back any banking regulation. The nomination requires Senate confirmation.
Quarles had been rumored for several months as a candidate for the position at the Federal Reserve Board, which has been operating with only four of its seven posts filled. Two Governor seats remain unfilled, including the seat designated for a community banker. NACHA has been working hard to support a community banker, with extensive experience in payments, to be nominated for that seat.