Federal Reserve Board governor Edward Gramlich has announced he is resigning effective Aug. 31 to pursue several teaching and research interests.Mr. Gramlich, 65, has served on the board since November 1997 and has played key roles in pushing through major changes to the Fed's Home Ownership and Equity Protection Act and Home Mortgage Disclosure Act regulations. His efforts increased the number of high-cost subprime loans subject to HOEPA restrictions and required lenders to provide pricing data on high-cost loans as part of their annual HMDA reports. Prior to joining the Fed, Mr. Gramlich was dean of Michigan University's School of Public Policy.
Processing Content
