July 11, 2017

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FSR: Nomination of Federal Reserve Vice Chair for Supervision Crucial to American Economy

The Fed Vice Chair of Supervision will play a crucial role in modernizing the financial regulatory system so needed economic growth can occur while also making sure the system is safe and sound for consumers and taxpayers.

FSR: Nomination of Federal Reserve Vice Chair for Supervision Crucial to American Economy
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FSR: Nomination of Federal Reserve Vice Chair for Supervision Crucial to American Economy

Randal Quarles has both business and public service experience

 

WASHINGTON – The Financial Services Roundtable (FSR) today commended the Trump Administration for nominating a Federal Reserve Vice Chair for Supervision with both deep business and public service experience.  FSR also called the previously unfilled position crucial to boosting economic growth while maintaining a safe and sound financial system that protects consumers and taxpayers.

“The Fed Vice Chair of Supervision will play a crucial role in modernizing the financial regulatory system so needed economic growth can occur while also making sure the system is safe and sound for consumers and taxpayers”, said FSR CEO Tim Pawlenty.

FSR looks forward to working with the Federal Reserve and the Vice Chair of Supervision on matters such as tailoring the regulatory system, adjusting capital standards for America’s banks with the goal of growing the economy and protecting taxpayers, and increasing transparency and accountability to the process relating to bank stress test and “living wills”.

FSR urges the Senate to quickly consider the Vice Chair for Supervision and other top financial regulatory nominees.

 

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About The Author

The Financial Services Roundtable represents the largest integrated financial services companies providing banking, insurance, payment and investment products and services to the American consumer. Member companies participate through the Chief Executive Officer and other senior executives nominated by the CEO. FSR member companies provide fuel for America’s economic engine, accounting for $92.7 trillion in managed assets, $1.2 trillion in revenue, and 2.3 million jobs.

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