KRISTV.com
CORPUS CHRISTI, TEXAS | CONTINUOUS NEWS COVERAGE
Powered by
National News
Obama Picks Mary Jo White To Lead SEC
Posted: Jan 24, 2013 7:41 AM
WASHINGTON - President Barack Obama will nominate Mary Jo White to lead the Securities and Exchange Commission, tapping an attorney with broad experience in prosecuting white-collar crimes to lead an agency that has a central role in implementing Wall Street reform.
A White House official said the president would announce White's nomination during a ceremony in the State Dining Room Thursday afternoon.
At the same event, Obama will renominate Richard Cordray to serve as head of the Consumer Financial Protection Bureau, the official said. The president used a recess appointment last year to circumvent Congress and install Cordray as head of the bureau. That appointment expires at the end of this year.
The official spoke on the condition of anonymity in order to discuss the nominations ahead of the president.
White spent nearly a decade as the U.S. attorney in Manhattan, building a reputation as a tough prosecutor with an expertise in pursuing white collar crimes and complex securities and financial fraud cases. White House officials say that experience makes her well positioned to implement Obama's Wall Street reform legislation.
While serving as U.S. attorney, White also won convictions related to the 1998 bombings of two U.S. embassies in Africa and the 1993 World Trade Center bombing.
If confirmed by the Senate, White would take over the helm at the SEC from Elisse Walter, who is serving out the rest of former SEC chair Mary Schapiro's term. Schapiro resigned in December.
Cordray has run the consumer bureau since last year, when Obama used a recess appointment to install him in the job. Senate Republicans had opposed Cordray, as well as the concept of the consumer bureau.
Sen. Elizabeth Warren, D-Mass., first conceived of the idea of a consumer protection bureau. Obama considered naming her to lead the bureau, but her nomination would likely have run into deep opposition on Capitol Hill.
Video On Demand
Submit News
Do you have a tip, information about a breaking news story, or a story idea for 6 Investigates? Contact the KRIS 6 News Desk at 361-884-6666 or send us an email.
Most Popular
KRISTV.COM is Social!
Click the icons above to receive News, Weather, and Sports alerts from KRISTV.COM!
Inside KRISTV.COM
 |
Photo Central Look at photos and videos and share them! |
 |
Desktop Weather Current forecast, hurricane info, and much more! |
 |
KRISTV.COM Mobile Website Get KRISTV.com on your mobile or PDA! |
 |
KRISTV.COM Mobile Apps Get our mobile apps on your mobile or PDA! |
 |
Texas Lottery See the latest winning numbers! |
 |
6 News Team Read about your favorite KRIS-TV personalities! |
 |
FCC Online Public File FCC Public File of Records, Reports, and more |
Comments