March 8 David Nason, a General Electric
executive and former Treasury Department official, has told the
White House that he was no longer interested in taking up the
role of Federal Reserve's bank supervision chief, Bloomberg
Nason, who heads GE's Energy Financial Services division,
said he plans to pursue opportunities at the conglomerate,
Bloomberg said on Wednesday. (bloom.bg/2n6df2T)
In 2008, Nason was a deputy to Treasury Secretary Henry
Paulson as U.S. regulators tried to stabilize Wall Street and
prevent an economic meltdown after the housing market collapsed.
The Trump administration has said it was looking to fill the
position, which was created by the Dodd-Frank Wall Street reform
law after the 2007-09 financial crisis.
The post was never filled, but Daniel Tarullo who resigned
in February as Fed governor took on much of those
responsibilities. Tarullo said he would leave the U.S. central
bank on or around April 5.
Tarullo's resignation is seen as boosting Trump's plans to
ease reforms put in place after the financial crisis.
The supervision chief is the most senior rule-writer for
Wall Street and has a large say in how leading banks are
supervised day to day.
(Reporting by Arunima Banerjee in Bengaluru; Editing by Anil