U.S. Senator Elizabeth Warren railed against Securities and Exchange Commission (SEC) Chair Mary Jo White's performance, saying her tenure at Wall Street's top regulator has been marked by weak enforcement and sluggish rulemaking.
“Your leadership of the commission has been extremely disappointing,” Warren, a Massachusetts Democrat, wrote in a letter dated June 2.
White has come under increasing scrutiny in recent months as the agency struggles to finish rules that were required by Congress more than five years ago. According to Warren, White has continued a pattern of letting banks settle fraud cases without admitting wrongdoing and with little disruption to their businesses.
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