On April 15, President Biden nominated Michael Barr to serve as Vice Chair for Supervision of the Federal Reserve. Barr is currently a law and public policy professor at the University of Michigan, and previously served as the assistant secretary for financial institutions in the Treasury Department where he had a key role in the creation of the Dodd-Frank Act. Barr’s nomination comes after Biden’s first nominee for Vice Chair, Sarah Bloom Raskin, withdrew her nomination after facing bipartisan opposition.