Democrats Are Divided Over Biden’s Coming Pick of a Top Bank Regulator

 

WASHINGTON—A dispute over the choice of a top banking regulator is highlighting fault lines among Democrats—on issues from racial diversity to ties to the Obama administration—as President Biden fills out his leadership team.

Michael Barr, an Obama and Clinton administration alumnus who leads the University of Michigan’s public policy school, is the leading contender to head the Office of the Comptroller of the Currency, which oversees companies including JPMorgan Chase & Co. and Wells Fargo & Co.