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Analysis: U S Fed s Powell faces political test on bank capital relief question
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Mall Values Plunge 60% After Reappraisals Triggered by Bad Debt
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An Eye-Popping Decline - US Mall Values Crash By A Record 60% In 2020
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By Syndicated Content
By Pete Schroeder
WASHINGTON (Reuters) - U.S. President Joe Biden s nominees to head two key financial watchdogs will be questioned by lawmakers on Tuesday on how they plan to tackle racial and income inequality, climate change, fintech regulation, cryptocurrencies, corporate enforcement and other issues.
Gary Gensler, the White House s nominee to lead the Securities and Exchange Commission (SEC), and Rohit Chopra, nominated to be director of the Consumer Financial Protection Bureau (CFPB), will appear before the Democratic-led Senate Banking Committee.
Progressives see the agencies as key to advancing policy priorities on climate change and social justice and expect the pair, both experienced corporate regulators, to take a tough line on Wall Street. Republicans have criticized Biden for bowing to leftists and have warned that Gensler and Chopra will be divisive if confirmed to the positions.