Golden Finance reported that the Federal Reserve’s top regulatory official, Michael Barr, announced on Monday that he would resign in the next few weeks, clearing the way for President-elect Trump to reshape federal bank supervision. Barr, who has served as the Fed's vice chairman for supervision since 2022, said he would resign on February 28 or earlier if his successor is confirmed. He said he would remain a member of the Federal Reserve Board. Barr has been discussing his options with outside legal counsel and his resignation would avoid a major legal battle. Barr's term as vice chairman of oversight was originally scheduled to end in 2026. But some Republicans and Trump allies have floated a legally controversial plan to remove or demote him so he could more easily implement his financial regulatory plans. "The risk of a dispute over this position could distract from our mission," Barr said in a statement.