James Bullard, president and CEO of the Federal Reserve Bank of St. Louis, today announced that he will step down Aug. 14 to become the inaugural dean of the Mitchell E. Daniels Jr. School of Business at Purdue University. First VP and COO Kathleen O’Neill Paese has assumed the duties of interim CEO in preparation for Bullard’s exit. The bank’s board of directors has formed a search committee to find a replacement.
Fed, FDIC withdraw statements on managing risks for crypto
The Federal Reserve and FDIC rescinded two joint statements issued under the Biden administration on the risk management obligations of financial institutions should they offer crypto-related services.