White House Considering Richard Cordray as Top Fed Banking Regulator - The Wall Street Journal

1 month ago 72

President Biden is considering Richard Cordray, the first director of the Consumer Financial Protection Bureau, to serve as the Federal Reserve’s top banking regulator, according to people familiar with the matter.

If nominated and confirmed by the Senate, Mr. Cordray would become the government’s most influential overseer of the U.S. banking system, succeeding Randal Quarles as the Fed’s vice chairman of banking supervision.

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