Biden names pick for next Treasury assistant secretary for FIs

The White House Monday said President Joe Biden (D) intends to nominate Graham Steele to fill the post of assistant Treasury secretary for financial institutions, which helps set policy on financial institutions, government-sponsored enterprises, and cybersecurity and critical infrastructure protection.

The White House notes that Steele, who worked several years on Capitol Hill, including as a staffer for Sen. Sherrod Brown (D-Ohio), now chairman of the Senate Banking Committee, is currently the director of the Corporations and Society Initiative at Stanford Graduate School of Business, a research initiative that examines issues at the intersection of markets, business, and government to promote more accountable capitalism and governance.

Steele previously was on the staff of the Federal Reserve Bank of San Francisco, the White House noted. He was the minority chief counsel for Senate Banking Committee from 2015 to 2017 and was a legislative assistant for Brown from 2010 to 2015, handling the senator’s work on the Banking Committee, the White House said in its release. It said Steele, while working for Brown, spent four years as the staff director of the Subcommittee on Financial Institutions and Consumer Protection. Before joining Brown’s staff, he was a policy counsel at Public Citizen’s Congress Watch in Washington, D.C.

Steele received his bachelor’s degree in political science from the University of Rochester and his law degree from The George Washington University Law School, the White House said.

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