washington u.s. president donald trump plan nominate former treasury official randal quarles federal reserve top bank regulator white house say monday confirm senate quarles would first vice chair supervision feed role create 2008 financial crisis never fill obama administration quarles view industry-friendly figure likely listen bank complain impact regulations implement since financial meltdown nomination widely expect since april former feed governor daniel tarullo effectively run bank supervision step february oversee strict implementation 2010 dodd-frank wall street reform law administer rigorous stress test annually bank prepare withstand unexpected shock quarles currently run private investment firm found cynosure group salt lake city utah previously partner private equity firm carlyle group also secretary domestic finance treasury president george w. bush u.s. executive director international monetary fund opinion piece wall street journal march 2016 quarles lawrence goodman another former u.s. treasury official argue break big bank would risk damage wide economy also talk refine obama-era financial rule introduce financial crisis quarles central figure push trump administration plan loosen leash put wall street bank follow crisis trump lay plan last month need officials key regulatory post carry agenda gradually nominate head financial agencies treasury secretary steven mnuchin securities exchange commission chairman jay clayton approve congress agencies either await presidential pick operate act chiefs others leaders appoint trump democratic predecessor president barack obama trump nominate quarles feed 's top bank regulator