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Last week, Joe Biden assumed the presidency amid multiple, overlapping, short- and long-term crises. The list of priorities for the new administration is long and fights over the relative emphasis placed on each are surely incoming. To sidestep these ugly battles and ensure that his administration rises to meet each of these pressing crises, President Joe Biden must use all available powers to rebuild the federal government’s capacity to act in the public interest. The Revolving Door Project’s latest memo, “Rapid Reinforcements: A Guide to Federal Hiring Authorities,” enumerates the authorities that a Biden administration can and should use to scale up civil service capacity quickly.

Initially created to regulate futures derivatives on crops that had yet to be harvested, the Commodity Futures Trading Commission (CFTC) holds newfound possibility in the coming decade. It is absolutely crucial that a modern-day CFTC taps into the power it already holds to lead on climate action. Naturally, this necessitates a leader with a proven record of taking on corporate power. Any appointee should be prepared to advocate for the public interest, acknowledge the current reality of climate decay we find ourselves in, and creatively apply tools of the government to take immediate action.

Lately, fintech-funded individuals like Michael Barr have been rumored for powerful financial regulatory positions, despite the fact that this would leave them in charge of decisions directly affecting the firms they advised.

The right-wing’s revolving door attacks on President Biden are intensifying, with a particular focus on the new President’s ties to Big Tech. Biden must beware the potency of these attacks and address them head-on.

This newsletter provides regular updates on Biden Administration personnel decisions. While we do not claim to capture the full powers and responsibilities of these positions, we will discuss the top Administration jobs Biden has yet to fill. We also discuss the individuals vying for top jobs who present serious conflicts of interest.

On Monday, President Biden announced his intention to name Federal Trade Commissioner Rohit Chopra as the Consumer Financial Protection Bureau’s next director, earning a rare, unqualified cheer from the party’s left flank. Despite serving in the minority on the FTC, Chopra has managed to have a ground-shaking impact, earning a reputation for skillful and creative maneuvering. It is encouraging to see his dogged work for the public interest rewarded and the CFPB land in such capable hands. Just elevating Chopra, however, is not enough. If Democrats are serious about good governance and building their party’s power, they must look to the institutional features that provided Chopra with a platform and honed his governing skills so that, moving forward, he is not such a lonely figure.

As President Biden continues to staff his administration, the nascent fintech industry will be keeping close watch on the personnel appointed to key regulatory positions. It would be prudent to keep private fintech evangelists away from the positions that are responsible for regulating these firms and cryptocurrencies.

Baradaran seems committed to challenging the status quo of our financial system that sidelines poor and marginalized communities. The OCC has long been part of a banking system that reinforces racial injustice rather than addresses it — and that remained largely true even after Dodd-Frank was passed and implemented by Obama’s regulatory team. Voices like Baradaran’s are valuable in reconsidering financial regulation and helping raise the bar for who is and who is not an adequately zealous regulator.

Racial Wealth Gap Expert Mehrsa Baradaran is an Alternative to Michael Barr, a Wall Street and Big Tech Ally.

In a disappointing continuation from the Trump Administration, Politico reported last week that a Kirkland & Ellis lawyer is in contention to help lead the Department of Justice, raising serious concerns among anti-monopoly advocates. According to the article, Susan Davies, a litigation partner at Kirkland, might be the next assistant attorney general for antitrust.

Big Tech has a huge stake in who Biden ultimately staffs his antitrust and tech regulators. These individuals will decide how aggressively to carry out Biden’s promises of reining in the political and market power of these companies. If Big Tech gets its way, Biden will staff his antitrust teams with its attorneys and allies, who have pushed back against calls to break up these monopolies and protected them against regulation and enforcement. But if Biden wants to keep his campaign promises to take on monopolies, he must shut the revolving door between the federal government and Big Tech. That starts by rejecting for top jobs the following Big Tech allies.

Dozens of foreign policy, faith-based, environmental organizations, and watchdog groups are calling on President Biden to require more thorough screenings for, and disclosures of, possible conflicts of interest among nominees and appointees to the new administration. In a letter sent to the White House today, over 40 groups, including the American Friends Service Committee, Friends of the Earth, Government Accountability Project, Peace Action, Project on Government Oversight, Public Citizen, Win Without War, and the Revolving Door Project say the Personal Financial Disclosures submitted by Biden’s nominees do not include vital information about private sector work and personal investments, posing questions about potential conflicts of interest.

If appointed to Biden’s OCC, Barr will confront one major new question for the primary federal regulator of banks: how to handle the emergent “fintech” industry of lending and payments apps. Disturbingly, Barr’s history advising and investing in the fintech industry suggests an approach similar to Trump’s own fintech-friendly stooge, former acting Comptroller Brian Brooks.

The OCC could also update the Comptroller’s Handbook to guide bank examiners to measure climate risk in their assessments, which would force banks to measure climate risk in their own internal stress tests. This would also push banks to make environmentally sound decisions, because they would be recontextualized as financially savvy decisions.

Yesterday, Joe Biden was sworn in as the 46th President of the United States. President Biden has promised to build back a better America, but he faces a steep climb to reach this lofty goal. The nation is still reeling from an ongoing pandemic and recession, and the government has had to cope with massive shocks to the civil service, morale, and its basic functions during the Trump administration. To make good on his promise, Biden will need to undo the damage from Trump and decades of right-wing actions to undermine governance.