WASHINGTON (CNNMoney)
The nomination will be announced later Thursday, an administration official told CNN. In addition, Obama will nominate Richard Cordray to a full term as director of the Consumer Financial Protection Bureau. Cordray has already been heading the agency, but has been serving on a recess appointment due to Republican opposition to the agency itself, which has blocked a Senate vote on his confirmation.
White served nine years as the the chief federal prosecutor for the Southern District of New York, a territory that includes Wall Street. She left the post in 2002 and has been in private practice since then, serving as a partner at Debevoise and Plimpton, the firm at which she had previously worked. There she's represented firms that were themselves under SEC investigation.
Cordray had previously served as Ohio Attorney General before joining the CFPB. The agency was created under the Dodd-Frank legislation that was passed during Obama's first term.
First Published: January 24, 2013: 8:49 AM ET
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