Daniel Tarullo, the Federal Reserve official who spearheaded the U.S. government’s aggressive push to make banks safer after the 2008 financial crisis, plans to step down in early April.
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As the Fed governor who oversaw the regulation of Wall Street, Tarullo often took the lead in implementing new rules and in defending the government’s response to the crisis before Congress. He earned a reputation as one of the toughest supervisors of banking. The industry may welcome the arrival of whomever President Donald Trump puts in charge of banking supervision.
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“Dan led the Fed’s work to craft a new framework for ensuring the safety and soundness of our financial system following the financial crisis and made invaluable contributions across the entire range of the Fed’s responsibilities,” Fed Chair Janet Yellen said in a Friday statement.