WASHINGTONA decade ago, Ted Kaufman sought to rein in big banks. Now he will have a significant role in picking the people who supervise them.
In 2010, during a brief stint in the Senate, Mr. Kaufman led a push to limit the size of U.S. lendersa move that would have led to the breakup of the biggest banks had it been successful.
Mr. Kaufman is leading President-elect Joe Bidens transition team, giving him a voice in choosing appointees to fill positions across the government, including the Consumer Financial Protection Bureau and the Securities and Exchange Commission.
A longtime friend of Mr. Biden, Mr. Kaufman is seen as a bridge between moderate Democrats and more liberal members of the party, who applaud his long history of seeking tough new rules on the financial-services industry. Even if he doesnt take a formal role in the administration, Mr. Kaufman is likely to continue to have the ear of Mr. Biden, people who know him say.
Mr. Kaufman has taken aim at the revolving door between Wall Street and Washington and was an early critic of the high-frequency trading that he said contributed to the May 2010 stock-market flash crash.
