US Democratic lawmaker Warren presses Fed official over conflicts

Kitco Media
By Reuters
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Reuters
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NEW YORK, March 25 (Reuters) - U.S. Democratic Senator Elizabeth Warren ​on Wednesday pressed top Federal ‌Reserve official and former veteran Wall Street bank attorney Randall Guynn to ​explain how he is ​handling potential conflicts of interest in ⁠his new role, according to ​a letter reviewed by Reuters.

Reuters ​was first to report last month that Guynn, who had worked for the biggest ​U.S. banks during his 40-year ​career at Davis Polk, has been tapped ‌for ⁠a powerful Fed position policing the industry, reporting to Fed Vice Chair for Supervision Michelle ​Bowman.

The supervision ​and regulation ⁠division is responsible for the Fed's broad oversight ​of the banking sector, ​which ⁠includes setting rules for and examining the nation's largest, most complex ⁠financial ​institutions.

A Fed spokesperson ​confirmed receipt of the letter, but declined ​to comment further.

Reporting by Chris Prentice

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