Sen. Gillibrand won't compete with Warren for Banking Committee spot

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Although Warren had not explicitly said she wants a job on the committee, she made Wall Street reform a staple of her Senate campaign. Warren was also the architect behind the Consumer Financial Protection Bureau.

Gillibrand was rumored to be a possible obstacle for Warren to get one of the two open spots on the Banking Committee, due to Gililbrand's seniority in the Senate over Warren.  

Other names that have been mentioned to fill one of the spots include Sen. Chris Coons (D-Del.).

Coons did not immediately respond to a request for comment.

—Peter Schroeder contributed reporting.