President Donald Trump on Monday nominated Michelle Bowman to oversee the Federal Reserve's financial regulatory efforts, a move that could lead to looser rules for large banks.

President Trump's selection of Federal Reserve Gov. Michelle Bowman as the next vice chair for supervision comes as banking groups and their allies in Congress asked the administration to fill the ...

Michelle Bowman, current Federal Reserve governor, is expected to become the central bank's top financial regulator, replacing Michael Barr, who resigned last month.