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Jan. 18, 2021, 9:21 a.m. EST

Biden picks Gary Gensler to lead SEC, Rohit Chopra to helm CFPB

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By Mike Murphy

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, the campaign announced Monday.

Gensler is the former commissioner of the Commodity Futures Trading Commission and is a former partner at Goldman Sachs Group Inc. /zigman2/quotes/209237603/composite GS +3.58% .

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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