While the regulatory reform effort is likely to continue on its current path if Janet Yellen, the Federal Reserve Board's vice chairman, is tapped to lead the central bank, the future is decidedly murkier if Larry Summers wins the post.

There are a number of open questions on how the former Treasury secretary might drive the Fed when it comes to bank supervision and regulation, including how well he would work with colleagues like Fed Gov. Daniel Tarullo and how deep his interest in the subject would be.

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