President Donald J. Trump’s nominations for the Comptroller of the Currency and a Federal Reserve Board official have been approved by a key senate committee.

Randal Quarles was nominated by the president to be the Fed’s vice chairman for supervision. It’s a new position created after the financial crisis that has yet to be filled.

The Senate Banking Committee approved the investment fund manager for the Fed position on Thursday by a 17-6 vote.

Source: Mortgage Daily