David W. DeCarlo
Counselor on Financial Markets
About
David DeCarlo is counselor on financial markets in the Federal Reserve Bank of Chicago’s Financial Markets Group. His primary responsibilities include analyzing how financial regulations and market practices shape risks in financial markets and financial market infrastructures and promote the stability of the U.S. financial system.
Before joining the Chicago Fed, DeCarlo served as the first regulatory innovation officer at the Illinois Department of Financial and Professional Regulation (IDFPR), where he developed policies to address financial stability and consumer protection risks related to digital assets, nonbank payment services, and other fintech issues. Previously, as the deputy general counsel for banking at IDFPR, he proposed emergency executive, regulatory, and legislative initiatives to assist Illinois residents and guide banks and other regulated financial institutions through the Covid-19 pandemic.
DeCarlo also has prior experience advising clients on financial regulatory matters in private practice and analyzing open market operations and financial market developments in the Markets Group at the Federal Reserve Bank of New York. He received his J.D. and M.B.A from Stanford University and his B.A. in economics from Yale University.
