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.


About Author

Evan Sparks

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