Daniel Tarullo, the Federal Reserve’s point man on overhauling the financial system, has emerged as the most powerful figure pushing against the country's biggest banks over their risk-taking, according to a story in The Washington Post.

Tarullo is leading the effort in Washington to make major banks hold more money in emergency reserve. The issue was brought to the forefront after JPMorgan Chase last week announced $2 billion in surprise trading losses.

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