WASHINGTON — Federal prosecutor Loretta Lynch may soon replace Attorney General Eric Holder, but it appears that the country's banks can breathe easy over the pending shake-up.

The White House formally named Lynch, a two-time U.S. attorney for the Eastern District of New York, on Saturday. She's garnered a reputation in both the public and private sector as being smart, fair and apolitical, which likely boosts her chances for Senate confirmation either during the lame duck session or early next year when Republicans take control of the chamber.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access