The Senate is expected to hold confirmation hearings on March 11 regarding the nomination of Mary Jo White to chair the SEC. The New York Times reported that Ms. White will most likely join Richard Cordray, who Obama reappointed as the director of the Consumer Financial Protection Bureau this January. The paper had the following commentary about potential challenges White will face during the hearings:
“While Ms. White is a skilled litigator, she lacks experience in financial rule-writing and regulatory minutiae, a potential stumbling block for her nomination. Lawmakers also expect to raise questions about her movements through the revolving door that bridges government service and private practice. Some Democrats, a person briefed on the matter said, will question whether she is cozy with Wall Street.”