From the Web: Richard Cordray Could Move from Student Aid to Federal Reserve

Nominations for the Federal Reserve are expected in early December.

11/30/2021 1:00 PM

1 minute read

After less than a year as chief operating officer for Federal Student Aid, Richard Cordray is in the mix to serve as the leader of the Federal Reserve, The Wall Street Journal reports.

According to the article, President Joe Biden is considering a nomination for Cordray at the Federal Reserve to succeed Randal Quarles as the vice chairman of banking supervision at the Fed.

Cordray was named COO of Federal Student Aid in May and served as director of the Consumer Financial Protection Bureau from 2012 to 2017. He oversees the federal student loan program now, where payments on hold during the COVID-19 pandemic are set to resume in February.

Additional Fed nominations from the White House are expected in early December, according to The Wall Street Journal.

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