As the Fed Reorders Bank Supervision, It Surprisingly Cedes Power

Also, SEC extends compliance date for short-selling rules; Warren has some optimistic thoughts about the CFPB's long-term future; Chopra returns to the policy arena

It’s long been a Washington truism that regulatory agencies don’t ever give up power – and certainly not willingly. But when it comes to the front-line oversight of banks, the Fed is on course to do just that. The surprising trajectory is the brainchild of Vice Chair Michelle Bowman who in recent weeks has taken steps to slash the Washington-based super…