March 03, 2025 16:18 GMT
MNI BRIEF: Republicans Urge Filling Fed Supervision Slot Soon
MNI (WASHINGTON) - Republican leaders Monday urged Treasury Secretary Scott Bessent to quickly fill the role of bank supervision chief at the Federal Reserve.
The top leaders of the Senate Banking Committee and the House Financial Services Committee and 28 other Republicans in a letter emphasized the importance of "unwinding the politicized regulations promulgated by the Board" during the Biden administration, ensuring that there is accountability at the Fed and that "right-sizing the regulatory and supervisory work" of the Fed are not delayed.
Michael Barr resigned as the Fed Board's vice chair for supervision effective February 28 but continues to serve as a Fed governor.
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