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Wall Street notches another win as Fed's Barr clears the way for gentler banking regulator

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Federal Reserve Vice Chair for Supervision Michael Barr said he plans to step down from his role by next month .

The early departure of the Federal Reserve's top financial regulator allows for a more industry-friendly official to take his place.

Barr led the interagency effort to draft the sweeping Basel Endgame , whose initial version would've boosted capital requirements for the world's largest banks by roughly 19% .