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Biden reshuffles US financial regulators to reign in corporates

January 20, 2021

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On Monday, just two days before his inauguration, Biden announced the appointment of Rohit Chopra to direct the Consumer Financial Protection Bureau (CFPB).

Biden also nodded to his intent to nominate Gary Gensler as the next chair of the Securities and Exchange Commission (SEC).

Both appointments signal tougher policing for financial services firms in the US, as Democrats – who have long argued Republicans have relaxed rules on large corporates – come back into power.

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