President Joe Biden will nominate Michael Barr to be the Fed’s big banks regulator, the administration’s second attempt to fill the post.
to run the Office of the Comptroller of the Currency. But progressive Democrats, concerned by what they viewed as his cozy ties to Wall Street, snuffed out his candidacy.she was forced to withdraw in November
In tapping Barr again, the White House is betting that Raskin's withdrawal at the hands of Manchin is enough to persuade progressives — who might have preferred Raskin — to back a more-centrist choice. Still, those familiar with the White House's thinking say the president's advisors believe they can convince the likes of Sen., D-Mass., who previously applauded Barr's work in writing Dodd-Frank and establishing the CFPB.
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