In response to the announcement that the Trump Administration intends to appoint Wall Street lawyer Randal Quarles to serve as Vice Chair for Supervision at the Federal Reserve, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement:

“Trump’s pattern of appointing individuals to run agencies with missions they oppose both threatens the fabric of our government and ignores the needs of Main Street. Mr. Quarles’ deregulatory ideology and loyalty to Wall Street are inconsistent with the interests of hardworking Americans and may leave them vulnerable to the same predatory financial practices that led to the 2008 financial crisis. This appointment shows the American people that Trump and his cabinet of bankers and billionaires have every intention of bowing down to Wall Street’s worst impulses.”

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