Michelle Bauman: The Federal Reserve completes the restructuring of its banking regulatory department

Michelle Bauman, the Vice Chairman of the Federal Reserve responsible for regulatory affairs, has completed the restructuring of the banking regulatory department with the aim of focusing on financial risks and improving regulatory efficiency. The adjustment of the Regulatory and Legal Department took effect on July 12th, with personnel and resources being reassigned to four functional groups: Regulatory, Financial Research, Risk and Application, Regulatory and Policy, and Business Empowerment. The department will recruit leaders and ordinary employees.