Nominations signal Biden administration’s tougher stance toward Wall Street
President-elect Joe Biden will nominate Gary Gensler to lead the Securities and Exchange Commission and Rohit Chopra to lead the Consumer Financial Protection Bureau, according to media reports.
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Gensler is the former commissioner of the Commodity Futures Trading Commission and is a former partner at Goldman Sachs Group Inc.
Chopra currently serves on the Federal Trade Commission, and as an ally of Sen. Elizabeth Warren formerly worked as student-loan watchdog at the CFPB.
Both nominations signal the Biden administration’s significantly tougher stance toward Wall Street than it faced from the Trump administration.