Biden to nominate Michael Barr as Fed bank regulator in second attempt to fill post

Posted on AllSides April 15th, 2022
From The Center
Andrew Harrer | Bloomberg | Getty Images

President Joe Biden will nominate Michael Barr, a former Treasury Department official, to be the Federal Reserve’s top regulator in charge of big banks.

The choice of Barr was expected after CNBC earlier in the week confirmed that he was the White House’s frontrunner for the post. It would make the leading financial laws author perhaps the most powerful U.S. bank regulator: the Fed vice chair of supervision.

Barr served as assistant Treasury secretary for financial institutions during the Obama administration, where he helped design the 2010 Dodd-Frank Act. That law was...

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