Federal Reserve Governor Daniel Tarullo announced today that he will resign as a member of the board, effective April 2017. Tarullo was appointed to the board by former President Obama in 2009 for a term that was set to expire Jan. 31, 2022. During his tenure at the Federal Reserve, Tarullo was a key architect of financial regulatory policy following the financial crisis, including the stress testing framework for the nation’s largest banks.
With Tarullo’s retirement, President Trump will now have the opportunity to make three appointments to the Federal Reserve Board during his term, including the vice chair of supervision, a role created by the Dodd-Frank Act but never filled during the Obama administration.
