Toomey Warns on Possible Raskin Pick as Top Fed Regulator

Pat Toomey, the top Republican on the Senate Banking Committee, said he has “serious concerns” about the possible nomination of former Fed governor Sarah Bloom Raskin as vice chair of supervision at the Federal Reserve.

Raskin’s advocacy for financial regulators, including the Federal Reserve, to act to counter climate-change risks has drawn praise from senior Democrats, including Banking Chairman Sherrod Brown of Ohio and Sheldon Whitehouse of Rhode Island. But Toomey took a critical tack on Tuesday.

“Sarah Bloom Raskin has specifically called for the Fed to pressure banks to choke off credit to traditional energy companies and to ...