U.S. Senator Elizabeth Warren released responses from nominees of President Donald Trump, expressing concerns over their suitability for roles following their hearings on March 27, 2025. Warren, the Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, focused her questions on issues related to past actions and their potential future impact on regulatory oversight. The Banking Committee is set to vote on these nominations today in an executive session.
Paul Atkins, nominated for Chair of the Securities and Exchange Commission, was questioned about his actions prior to the 2008 financial crisis, and his links to Project 2025. Warren highlighted that Atkins's responses were inadequate, particularly in addressing potential conflicts due to digital assets owned by the Trump family.
Jonathan Gould, nominee for Comptroller of the Currency, faced scrutiny over deregulation policies in his previous tenure. Warren connected these policies to significant bank failures in 2023. Gould’s dismissal of deregulation as a factor in these events raised doubts for Warren about his preparedness for overseeing the financial system.
Nominee Luke Pettit, aiming to become Assistant Secretary for Financial Institutions at the Treasury Department, attributed the failure of Silicon Valley Bank to managerial and supervisory errors rather than regulatory shortfalls. Warren's questions suggested skepticism about Pettit's capacity to advocate for strong consumer protection within the Treasury.
Marc Molinaro, nominated for Administrator of the Federal Transit Administration, was questioned on his plans for public transportation programs, policy development, safety oversight, and support for FTA staff.