Ascent of Fed's Tarullo indicates era of light-touch regulation is over

President Barack Obama appointed Daniel Tarullo, a lawyer with a background in bank regulation, to the Federal Reserve Board. Tarullo's appointment seems to indicate that the era of hands-off, light-touch regulation of the banking industry has come to an end. His influence can be seen in the Fed's tough new guidelines on banker compensation as he shakes up the central bank's army of supervisors.

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