The Wall Street Journal: Randal Quarles said to be tapped for top Fed regulatory post

WASHINGTON — A former top Treasury Department official in the George W. Bush administration is expected to be President Donald Trump’s pick for a top financial regulatory post at the Federal Reserve, a senior official familiar with the matter said Sunday.

Randal Quarles, who now runs the Cynosure Group, a Salt Lake City-based investment firm he co-founded, is expected to be selected as the Fed’s vice chairman for bank supervision. The position requires Senate confirmation.

The position was created by the 2010 Dodd-Frank financial law to oversee the largest U.S. banks. Former President Barack Obama never nominated anyone to the job.

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