Obama Nominating Mary Jo White to Head SEC

Former federal prosecutor

President Obama on Thursday will nominate former federal prosecutor Mary Jo White as chairwoman of the Securities and Exchange Commission and renominate Richard Cordray for a full term as director of the Consumer Financial Protection Bureau, according to a White House official.

Both nominations are central to Obama's hopes of more tightly regulating Wall Street during his second term, as many of the new rules created by the Dodd-Frank overhaul of financial regulation take effect.