Latest exit from Fed's board gives Biden three slots to fill
November 7, 2021
WASHINGTON (AP) — Randal Quarles announced Monday that he will resign from the Federal Reserve's Board of Governors at the end of the year after completing a four-year term as its top bank regulator, opening up another vacancy on the Fed's influential board for President Joe Biden to fill.
Quarles has served as the Fed's first vice chair of supervision, which gave him wide-ranging authority over the banking system. In that role, he oversaw a broad loosening of some of the financial regulations that were put in place after the 2008-2009 global financial crisis and recession.