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Biden Treasury Pick Quietly Starts Work to Rein In Wall Street

  • Nellie Liang participated in talks before official nomination
  • Has signaled desire for stronger financial-stability council
Nellie Liang
Nellie LiangPhotographer: Andrew Harrer/Bloomberg
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Nellie Liang, President Joe Biden’s pick to serve as the Treasury’s undersecretary for domestic finance, didn’t wait to be nominated before beginning the task of strengthening Wall Street oversight.

Already working as an adviser to Secretary Janet Yellen, Liang, 63, has become the point person for cross-agency discussions on financial regulation and stability, according to more than half a dozen people familiar with the matter.