Released: January 18, 2021
Biden choices for CFPB, SEC pivot to robust enforcement
Source: Tory Newmeyer, Washington Post (Paid Registration)
President-elect Joe Biden is set to nominate Rohit Chopra, the former student loan ombudsman for the Consumer Financial Protection Bureau, to lead the consumer finance agency. Biden will tap Gary Gensler, the former chairman of the Commodities Futures Trading Commission, to run the Securities and Exchange Commission.
The choice of the Obama-era regulators to lead two key agencies overseeing the financial sector signals the incoming Biden team’s intent to provide an aggressive check on the industry after four years of deregulation and light-touch enforcement under the Trump administration.
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