The Office of Financial Research will need a new leader as of the first of the year as OFR Director Richard Berner has decided to step down.
Berner, who was confirmed by the Senate on Jan. 1, 2013, cited family as a motivating factor in his decision to resign.
Read on to find out what Berner and Treasury Secretary Steven Mnuchin had to say about the decision for the office’s only director to leave.