By Ryan Tracy 

WASHINGTON -- Republican lawmakers sent a letter to Federal Reserve Chairwoman Janet Yellen warning against adopting new rules in the coming months before the Senate confirms President Donald Trump's nominee for a key regulatory job.

"If the Federal Reserve chooses to adopt rules prior to the confirmation of a Vice Chairman for Supervision, please be aware that we will work with our colleagues to ensure that Congress scrutinizes the Federal Reserve's actions -- and, if appropriate, overturns them -- pursuant to the Congressional Review Act," says the letter dated Thursday from House Financial Services Committee Chairman Jeb Hensarling (R., Texas) and others on the committee. The act the letter refers to allows Congress to pass resolutions overturning rules adopted by independent agencies.

The vice chair position is vacant at the central bank, and Mr. Trump hasn't named a nominee for it. It is a powerful post with significant influence over the Fed's bank regulatory policies.

The letter cites executive orders issued by Mr. Trump outlining regulatory principles and calling for a freeze in new regulations until his appointees can be put in place. The letter mentions one specific rule, a yet-to-be published proposal that is expected to make the Fed's stress tests more difficult to pass for the largest banks. That rule is known as the stress capital buffer.

A Fed spokesman offered no immediate reply but said the central bank had received the letter.

Write to Ryan Tracy at ryan.tracy@wsj.com

(END) Dow Jones Newswires

February 23, 2017 23:08 ET (04:08 GMT)