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Sen. Sherrod Brown of Ohio will be the top-ranking Democrat on the Senate Banking Committee.

WASHINGTON (MarketWatch)Sherrod Brown, a critic of large banks, will be the top Democrat on the Senate Banking Committee when the new Congress takes office.

The Ohio senator had been expected to be elevated to ranking member, making him the Democratic leader on the committee. Typically, ranking member and chairman positions are decided among Senate leadership.

Chairman Tim Johnson, a Democrat from South Dakota, announced his retirement at the end of the current session. Republicans will have the majority, and thus the committee chairmanships, when the new session begins in January.

Brown became the ranking Democrat on the Finance Committee after more-senior senator chose not to become ranking member or seek leadership positions on other committees.

Brown has been seen as a critic of large financial institutions.

Hes somebody who really sees the financial sector and who really believes the financial sector should work for the broader interest of the public, said Marcus Stanley, policy director of Americans for Financial Reform, a Washington, D.C.-based advocacy group.

Republican Sen. Richard Shelby of Alabama is expected to become chairman of the committee. Like Brown, Shelby has been expected to address the issue of too-big-to-fail banks.

Brown collaborated with Republican Sen. David Vitter of Louisiana on legislation to prevent taxpayer bailouts of financial institutions.

But Brown also negotiated with Sen. Susan Collins, a Republican from Maine, on legislation that would clarify a rule in the Dodd-Frank law that would allow the Federal Reserve to regulate insurance companies differently than large banks.

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Sherrod Brown to be top Democrat on Banking Committee