President Barack Obama shakes hands with Mary Joe White in the State Dining Room of the White House in Washington, Thursday, Jan. 24, 2013, after announcing that he will nominate White to lead the Security and Exchange Commission (SEC)
WASHINGTON (AP) - President Barack Obama is nominating former U.S. attorney Mary Jo White to head the Securities and Exchange Commission, tasking her with going after "irresponsible behavior" in the financial industry.
Obama says White has the experience and resolve to protect the American people in a way that is fair. White specialized in prosecuting white-collar crimes as the U.S. attorney in New York City.
Obama is also renominating Richard Cordray as head of the Consumer Financial Protection Bureau. 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.
Obama says the financial industry has plenty of lobbyists looking out for them, and the American people need Cordray on the job looking out for them.