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Breaking

: Biden to pick Gary Gensler to lead SEC, Rohit Chopra to helm CFPB: reports

Nominations signal Biden administration’s tougher stance toward Wall Street

Then-Commodity Futures Trading Commission Chairman Gary Gensler speaks on Capitol Hill in 2009.


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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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Bloomberg News and the Wall Street Journal both reported the nominations Sunday night

Gensler is the former commissioner of the Commodity Futures Trading Commission and is a former partner at Goldman Sachs Group Inc.
GS,
-2.23%
.

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.

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