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Trump to Nominate Bank Watchdog in Potential Blow to Biden

  • White House says it wants OCC’s Brooks to get five-year term
  • Move might force Biden to try to oust Wall Street regulator
Updated on

President Donald Trump signaled he intends to nominate the acting Comptroller of the Currency to a new five-year term, potentially complicating the Biden administration’s plans to impose tougher regulations on Wall Street banks.

In a Tuesday statement, the White House said it intends to submit Brian Brooks’ name to the Senate for confirmation. The highly unusual move -- coming just weeks before what’s likely the end of Trump’s time in office -- could force President-elect Joe Biden to rely on never-used legal authority to try to remove Brooks and replace him with a more aggressive watchdog.