![]() They also asserted that he had helped dilute proposals for stricter bank regulations during the Obama administration. These critics viewed with suspicion Barr’s role on the advisory boards of the financial firms Lending Club and Ripple Labs. Sarah Bloom Raskin, the White House’s nominee to lead bank supervision at the Federal Reserve, is under fire for her views on climate regulation. President Joe Biden will nominate Sarah Bloom Raskin to be the Federal. He was an assistant Treasury secretary for financial institutions during the Obama administration who helped design the 2010 Dodd-Frank regulations after the devastating 2008 financial crisis.īarr, a Rhodes Scholar who clerked for Justice David Souter on the Supreme Court, also served during the Clinton administration at the White House, the Treasury Department and the State Department.ĭespite those credentials, some liberal critics last year blocked Barr’s candidacy to become the Biden administration’s comptroller of the currency, a position that is responsible for regulating national banks. The dispute is another headache for Sarah Bloom Raskin, one of President Biden’s Fed nominees, and Democrats hoping to confirm her to be one of the world’s most powerful bank regulators. Sarah Bloom Raskin, in her role as Deputy Treasury Secretary at the Treasury Department in Washington, October 2, 2014. Joe Manchin says he's opposed to the nomination of Sarah Bloom Raskin for a top regulatory post at the Federal Reserve, likely spelling defeat for her confirmation in the closely divided Senate. ![]() ![]() The Democratic president said that Barr “has spent his career protecting consumers, and during his time at Treasury, played a critical role in creating both the Consumer Financial Protection Bureau and the position for which I am nominating him.”īarr is the dean of Michigan’s Gerald R. WASHINGTON Lacking a path for confirmation in the evenly divided Senate, Sarah Bloom Raskin withdrew Tuesday as President Joe Bidens nominee to fill a top regulatory post at the Federal Reserve. ![]()
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