07.21.21
Biden to Tap Former Hill Aide for Top Treasury Post Overseeing Financial Rules
by: Kate Davidson; Andrew Restuccia
President Biden plans to nominate Graham Steele, a former Democratic chief counsel on the Senate Banking Committee, as assistant Treasury secretary for financial institutions. In recent years, Steele has been a vocal proponent of treating climate change as a systemic risk to the financial system. He has also warned about the risks from the outsized growth of the mutual fund industry, and outlined ways that policy makers could rein in asset managers, including through new limits on their size and concentration, as well as limits on the stakes they may accumulate in other industries.
Read the full article on Wall Street Journal.