10-5-17 11:12 AM EDT | Email Article
By Ryan Tracy 

WASHINGTON -- The Senate on Thursday approved Randal Quarles for a post on the Federal Reserve Board, marking President Donald Trump's first imprint on the central bank and his first full-time appointment of a banking regulator.

The vote on Mr. Quarles was 65-32. A former Treasury Department official, investor, and banking lawyer, Mr. Quarles is expected to oversee the Fed's work on a broad review of banking-sector rules with an eye toward rolling back some restrictions.

He will be the Fed's first vice chairman in charge of bank oversight. The Senate separately approved that designation by a voice vote Thursday, making him the first Fed governor to formally have a role created by the 2010 Dodd-Frank financial law.

Write to Ryan Tracy at ryan.tracy@wsj.com


(END) Dow Jones Newswires

October 05, 2017 11:12 ET (15:12 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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