Randal Quarles

The choice appears to reaffirm U.S. regulators' commitment to the international standards-setting body.

Federal Reserve Vice Chairman for Banking Supervision Randal Quarles is expected to succeed Bank of England Governor Mark Carney as chairman of the Financial Stability Board, a key global financial regulator, according to two people familiar with the matter.

Regulators have made progress on revising stress tests, the Volcker Rule and other post-crisis measures. But some worry examiners still have too much latitude to punish banks for trivial matters.

In his second straight day of congressional testimony, the central bank’s top regulatory official was put on the defensive about a pending proposal to relieve regional banks from the toughest supervisory requirements.

On the verge of controlling the Financial Services Committee, House Democrats criticized proposed changes to the Federal Reserve Board's post-crisis supervision program.

The National Credit Union Administration is expected to approve its proposed 2019-2020 budget this week, while Congress holds several hearings of interest to CUs.

The central bank's top regulator said public comments about the new tool, used to gauge capital strength during stress tests, will likely result in changes before it is adopted.

In a highly anticipated proposal, the central bank outlined a new approach for its post-crisis supervisory program that divides banks into different tiers based on size.

In a letter Monday to Federal Reserve Board Chairman Jerome Powell, the four House Democrats argued that the nation’s aging payments system is contributing to economic inequality.

The Federal Reserve Board’s meeting to discuss supervisory standards for midsize institutions will be closely watched by regulatory relief advocates and those who want the Fed to maintain its firm hand.