The Trump administration is searching for a candidate to fill the position of vice chairman for supervision at the Federal Reserve, according to the Wall Street Journal.
Former president Obama failed to fill the position while he was in office even though he appointed officials for less senior positions during that time.
The position was created by the Dodd-Frank law and would require that the person who fills it testify before Congress twice a year on matters of oversight to ensure that the Fed is being held accountable.
According to the WSJ, Trump has met with two people in regards to this position in recent weeks but may be considering David Nason, a former Treasury Department official and executive at General Electric. The article notes that Trump also met with Richard Davis, a executive at U.S. Bancorp, and Hal Scott, a professor at Harvard Law.
"The meetings provide more evidence the administration is looking at candidates who will take a less aggressive regulatory posture than the Fed did under the Obama administration, in line with the desire of Mr. Trump and his advisers to pare back regulations spurred by the 2010 Dodd-Frank financial law," the article states.
