John Williams

John Williams, a monetary policy expert, has been a critic of Wall Street culture and has voiced concerns about financial startups not offering equal access to credit.

The San Francisco Fed chief, an economist, is seen as a complement to Fed chair Powell; the proposal would make it easier for banks to comply with the law.

The New York Fed has tapped San Francisco Federal Reserve Bank President John Williams as its next president, concluding a search process that has drawn criticism for being inadequately considerate of candidates with more diverse backgrounds.

Senator is concerned about the San Francisco Fed chief’s track record; the gaps at three big banks are among the largest.

The Federal Reserve is facing a backlash over its lack of diversity in key positions after it emerged this weekend that John Williams, the current president of the San Francisco regional branch, is a front-runner to succeed William Dudley as head of the powerful New York Fed.

San Francisco Fed chief is reportedly leading candidate to replace Dudley in New York; four senior officers to retire as OCC readies penalties against the bank.