WASHINGTON—Sarah Bloom Raskin, President Biden’s pick to become the Fed’s top banking regulator, could face a contentious nomination process due to her support for tougher banking rules and for using financial regulation to address climate-change positions cheered by progressives but criticized by some Republicans.

Still, Ms. Raskin is unlikely to face the kind of industry opposition that helped torpedo the nomination of Saule Omarova, an academic Mr. Biden tapped last year for a separate post overseeing national banks. That fight was led by community banks who have a more favorable view of Ms. Raskin from her former stints in government.



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