Senate committee firms up SEC, CFPB leaders

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By Jennifer Kang
11 Mar 2021

The Senate Banking Committee approved the nomination of Gary Gensler as chair of the Securities and Exchange Commission and Rohit Chopra as director of the Consumer Financial Protection Bureau, allowing the two picks by US president Joe Biden to advance to the Senate floor. The restoration of consumer protection initiatives removed under the Trump administration is expected to follow a successful confirmation by Chopra.

Gensler, who is currently a member of the New York Fed Fintech Advisory Group, was approved by a 14-10 vote after the Committee’s 12 Democrats and two of its Republican senators voted in favour of his nomination.

Federal Trade Commission commissioner Chopra also advanced to the Senate floor. But ...

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