President Donald Trump's push to roll back Wall Street regulations is being held up by his inability to fill open seats at the two main agencies charged with overseeing the financial industry.
The White House's inaction has left the U.S. Securities and Exchange Commission and Commodity Futures Trading Commission with just two members apiece, one from each political party. That's given the lone Democrats at each regulator the unusual power to block policy moves they disagree with.
The dynamic is putting a spotlight on the SEC's Kara Stein and the CFTC's Sharon Bowen, two commissioners who have been full-throated supporters of tightening industry rules after the 2008 financial crisis. Instead of being shunted aside as Republicans took control of the government this year, the two are being heralded as big impediments to Trump's deregulatory agenda.
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