Michael Barr oversaw an attempt to rewrite financial regulations that came under attack from a wide range of groups, including banks, lawmakers and even some of his colleagues.

Federal Reserve Vice Chair of Supervision Michael Barr's decision on Monday to resign early from his regulatory oversight role sets up an early test of how Donald Trump will try to shape the U.S. central bank during his second term as president.

Michael Barr says his choice to step down from his role as Vice Chair for Supervision came down to the calculus that even winning a fight with the incoming Trump administration to stay would be a loss for the Federal Reserve.

The Federal Reserve’s top supervisory official said he would step down from his position, avoiding a potential legal fight with the incoming Trump administration. He will stay on as a Fed governor.

Michael Barr, the Federal Reserve's top regulatory cop, said he will step down on Feb. 28, in a surprise move that will avert a potentially messy legal fight with President-elect Donald Trump who is now free to replace him with an official of his choosing.

Federal Reserve Vice Chairman for Supervision Michael Barr announced that he will step down from the powerful role in the coming weeks after President-elect Donald Trump enters office. Barr submitted his resignation letter to President Joe Biden on Monday,

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