Fed’s Tarullo Stepping Down as Top Regulator of Wall Street
- Tough banking supervisor to resign effective around April 5
- President Trump to have major influence on supervision, FOMC
Why Tarullo's Resignation From the Fed Is Significant
This article is for subscribers only.
Daniel Tarullo, the Federal Reserve official who spearheaded the push to make banks safer after the 2008 financial crisis, plans to step down in early April, amplifying President Donald Trump’s ability to reshape the central bank’s oversight of Wall Street and monetary policy.
As the Fed governor who handled regulation, Tarullo often took the lead in implementing new rules and in defending the government’s response to the crisis before Congress. Because he earned a reputation as one of the toughest supervisors of banks, the industry quietly welcomed news of his resignation Friday.