U.S. President Joe Biden says he plans to nominate Michael Barr to be the Federal Reserve’s (Fed) deputy chairman for banking supervision
Barr headed the Office of Comptroller of the Currency and also worked at the Treasury Department under President Barack Obama, where he helped develop the 2010 Dodd-Frank regulatory framework for financial institutions.
Notably, Barr later worked as an advisor at Ripple. He is currently a faculty member at the University of Michigan.
“I will work with Senate Banking Committee Chairman Sherrod Brown to move Barr’s nomination forward quickly,” Biden said.