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The Boston Globe

Business

Obama nominates former US attorney as SEC chairwoman

President Obama announced Thursday his nomination of Mary Jo White, a former federal prosecutor turned white-collar defense lawyer, to be the next chairwoman of the Securities and Exchange Commission.

In a short ceremony at the White House, Obama also said he was renominating Richard Cordray as director of the Consumer Financial Protection Bureau, a post Cordray has held under a temporary recess appointment without Senate approval for the past year. The president portrayed both selections as a way of preventing a financial crash like the one he inherited four years ago.

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