President-elect Joe Biden will likely have to contend with a Republican-controlled Senate. That could have important implications for his approach to financial services policy.
The incoming administration chose a battle-tested policymaker who can draw on her nearly two decades at the Fed to help rebuild an economy still struggling from the coronavirus pandemic.
The president-elect has legal backing to fire Director Kathy Kraninger thanks to a recent court ruling, but Republicans are prepared to challenge his ability to choose her successor.
In an open letter, industry veteran Thomas Vartanian outlines the steps the administration can take to encourage innovation, better detect cyber threats and modernize regulation.
The Trump administration said it has picked Brian Brooks, who has led the Office of the Comptroller of the Currency in an acting capacity, to be considered by the Senate for a five-year term. But it is unclear whether he would stay on during the incoming administration of Joe Biden.
The head of the agency told a congressional panel that the agency is taking steps to prepare for the incoming Biden administration and that she plans to serve until her tenure ends in 2023.
Bill Bynum, president and CEO of Hope Federal Credit Union, and Gail Laster, former director of the National Credit Union Administration's consumer-protection division, are working with the incoming administration.
The group includes many advocates for stricter bank regulation from the Obama administration; the president-elect may have as many as three open seats on the central bank or as few as none.
A moderate pick with financial sector ties could upset progressives, while the likely GOP majority in the Senate could balk at a nominee seen as too liberal. Here are some of the candidates.
If Republicans keep their majority, the incoming administration will likely have to pick moderates over progressives to have any chance of getting its nominees approved.
