Senate Confirms Quarles as Fed’s Top Bank Regulator

The Senate today voted to confirm Randal Quarles as the first-ever vice chairman for supervision of the Federal Reserve Board of Governors. Quarles was confirmed to serve on the Fed board by a bipartisan vote of 65 to 32, after which his nomination as vice chairman was approved by a voice vote. The position of vice chairman for supervision was created in the Dodd-Frank Act but has never before been filled.

American Bankers Association President and CEO Rob Nichols welcomed Quarles’ confirmation. “We look forward to working with Vice Chairman Quarles in crafting a regulatory program that fosters economic growth, and allows banks of all sizes to better serve their customers and communities without compromising safety and soundness,” he said.

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Evan Sparks

Evan Sparks is editor-in-chief of the ABA Banking Journal and vice president for publications at the American Bankers Association.