Jay Clayton, the mergers and acquisitions and banking lawyer who is President Donald Trump’s nominee to chair the Securities and Exchange Commission, took the first Congressional step to assume the post with his approval by the Senate Banking Committee Tuesday 15 to 8.

Senate Banking Chair Mike Crapo said he is hoping for full Senate confirmation of Clayton this month.

In leading the unanimous Republican support for Clayton on the committee, Crapo called the attorney well qualified and said he will propel the SEC into an active role in creating jobs. Clayton has indicated that he sees part of his role as encoraging capital formation rather than simply acting as Wall Street's top cop.

But the Senate Banking Committee's lead Democrat, Ohio’s Sherrod Brown, warned that, with his big bank connections, Clayton could let Wall Street get away with murder.

Brown voted against Clayton as did fellow Democratic Senators Elizabeth Warren from Massachusetts, Jack Reed from Rhode Island, Robert Menendez from New Jersey, Brian Schatz from Hawaii, Chris Van Hollen from Maryland, Catherine Cortez-Masto from Nevada and Joe Donnelly from Indiana.

Montana’s Jon Tester, Virginia’s Mark Warner and North Dakota’s Heidi Heitkamp were the only Democratic senators voting to confirm him.