American banks likely will have a new chief regulator soon, with one of the most likely candidates a welcome name to Wall Street.
John Allison is a name frequently mentioned when it comes to potential candidates President-elect Donald Trump is considering to run the nation's financial system, though a handful of other names also have been bandied around.
If the chatter about him is true, Allison would be named for a Federal Reserve Board of Governors vacancy that would make him vice chairman and head of banking regulation, a position left technically unfilled since it was mandated by the Dodd-Frank banking reforms.
The Trump camp did not respond to CNBC requests for comment.
The Street knows Allison well: He was CEO of BB&T from 1989 to 2008 and developed a reputation as a strong hand who guided the bank through years of prosperity and kept the institution off the rocks when the financial crisis hit in 2008. During his tenure, BB&T's assets swelled from $4.5 billion to $152 billion. The bank now has more than $217 billion in assets and is the 11th-largest U.S. institution.
In addition, he followed up his time there at the libertarian Cato Institute think tank, where he currently serves on the board after being president and CEO from October 2012 to April 2015.