US Treasury Secretary Steven Mnuchin announced that Richard Berner, director of the Office of Financial Research, will step down effective December 31, 2017, one year ahead of the expiration of his term. Berner was the first director of the agency, which was created by the Dodd-Frank Act with the mission of collecting and analyzing data across financial agency jurisdictions. Berner was confirmed by the Senate on January 1, 2013, for a six-year term. Berner’s successor has not yet been named.
