Biden Taps Gensler as SEC Chairman, FTC’s Chopra as CFPB Chief

President-elect Joe Biden has picked a pair of veteran regulators strongly backed by progressive Democrats to lead two key Wall Street watchdogs, signaling that his administration is planning tough oversight after four years of light-touch policies under appointees of President Donald Trump.

Former Commodity Futures Trading Commission Chairman Gary Gensler will be nominated to lead the Securities and Exchange Commission and Federal Trade Commission member Rohit Chopra is being tapped to lead the Consumer Financial Protection Bureau, Biden’s transition team said Monday.

Gary Gensler in 2013.

Photographer: Andrew Harrer/Bloomberg

“Our administration will hit the ground running to deliver immediate, urgent relief to Americans; confront ...