The Federal Reserve has appointed longtime Wall Street lawyer Randall Guynn as its new director of supervision and regulation – a move critics say risks entrenching industry influence at the heart of financial oversight.

The Federal Reserve board has quietly appointed a prominent Wall Street lawyer and lobbyist as the central bank’s director of supervision and regulation, a move that one critic said was worse than “putting the fox in charge of the henhouse.”

“This is like appointing a lifelong arsonist as a fire chief,” Dennis Kelleher, president and CEO of Better Markets, said in response to the Fed’s decision to put Randall Guynn in a position to regulate the industry he has long represented.

Politico  reported Tuesday that “Guynn, a prominent Wall Street lawyer, will become the next director of supervision and regulation at the Federal........

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