Wall Street banks' top regulator is resigning from the Fed
Thomson Reuters
Federal Reserve Board of Governors member Daniel Tarullo speaks during an open board meeting at the Federal Reserve in Washington
He serves as chairman of the Board's Committee on Supervision and Regulation, which was responsible for regulating Wall Street banks.
"It has been a great privilege to work with former Chairman Bernanke and Chair Yellen during such a challenging period for the nation's economy and financial system," Tarullo said in his resignation letter.
President Barack Obama appointed Tarullo in 2009 for a term that would have expired at the end of January 2022.
"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 statement.
Tarullo, 64, was a law professor at Georgetown University before joining the Fed.
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