WASHINGTON–Federal Reserve Board Gov. Daniel Tarullo announced Friday that he will resign on or around April 5, giving President Trump an opportunity to appoint someone.
Appointed to the board by President Barack Obama for an unexpired term ending Jan. 31, 2022, Tarullo has served on the Fed board since 2009.
During his time on the board, he served as chairman of the board’s Committee on Supervision and Regulation. He was also chairman of the Financial Stability Board’s Standing Committee on Supervisory and Regulatory Cooperation.
In April of 2015, he was named chairman of the Federal Financial Institutions Examination Council, a post he will hold through March 31.
“He has previously discussed the benefits of consistent cybersecurity examination approaches by regulators and touted the collaborative efforts in developing the FFIEC’s cybersecurity assessment tool,” noted NAFCU.
In 2009, NAFCU’s board of directors met with Tarullo to present findings from the NAFCU Report on Credit Unions. Tarullo’s departure would leave three vacant seats on the Fed board. The board currently has two vacancies, including the slot for vice chairman in charge of bank oversight.