President-elect Donald Trump has repeatedly promised to reshape the federal government during his final term in office.

That agenda scored a win this week, with the BBC reporting that America's top banking regulator will step down from his position. 

Vice chair for supervision previously said he would finish his term

According to the network, Michael Barr said on Monday that he will no longer serve as vice chair for supervision on the Federal Reserve's Board of Governors

The BBC observed how Barr's departure comes as something of a surprise since the official previously told Congress that he intended to serve out the remainder of his term.

"As Chair Powell said, we serve fixed terms of office and I intend to serve my fixed term of office," Bloomberg quoted him as telling lawmakers in November.

"We have three major interagency rulemakings on capital, liquidity and long-term debt, and I look forward to working with my new colleagues at the OCC (Office of the Comptroller of the Currency) and the FDIC (Federal Deposit Insurance Corporation) on those rulemakings next year," he added.

Barr seeks to avoid "a dispute" with new administration

While Barr did not single out Trump by name, he did cite the potential for "a dispute" with the incoming administration, something which "could be a distraction from our mission."

"In the current environment, I've determined that I would be more effective in serving the American people from my role as [Fed board] governor," he added.

The BBC pointed out that although Fed governors can only be removed by a president "for cause," it is unclear whether this applies to other on the Fed board.

Barr's decision to step down as vice chair for supervision would therefore avoid the potential for a protracted legal battle with Trump.

Several other high-ranking figures are leaving

While Federal Reserve Chairman Jerome Powell said shortly after election day that he would not resign if asked to by the new president, other Washington figures will not be sticking around.

FBI director Chris Wray revealed in early December that he would resign despite his term of service not ending for another two years.

Meanwhile, Securities and Exchange Commission (SEC) Chair Gary Gensler has said he will leave his post on January 20.

Fox News stressed that Gensler, who served as chief financial officer on former Secretary of State Hillary Clinton's failed 2016 presidential campaign, has come under intense criticism from Republicans.