Thursday, September 23, 2021

Biden To Tap Law Professor Who Wants To Change U.S. Banking As OCC Chief

President Biden is planning to Nominate a Law Professor, who has said she wants to "end banking as we know it" to Run the Office of the Comptroller of the Currency (OCC).

Cornell Law School Professor, Saule Omarova, would run the OCC, which Oversees and Regulates the U.S. Banking System.

Omarova Specializes in Banking Law, International Finance, and Corporate Finance. She has received Degrees from Moscow State University, the University of Wisconsin at Madison, and Northwestern University School of Law.

Last Month, the Biden Administration was vetting Omarova to lead the OCC, after Two previous potential Nominees were Abandoned, due to Infighting within the Democratic Party.

Omarova, who was born in Kazakhstan, previously served as a Special Adviser on Regulatory Policy under former President George W. Bush.

In her writings, she has been Critical of Large Banks entering the World of Cryptocurrencies, which she argued would allow Large Firms to Conduct Trading Activity, out of Sight from Federal Regulators.

As the OCC Oversees Major Banking Institutions such as: JPMorgan Chase, Citigroup, and Bank of America, Omarova's stance on Expanding Governance over Large Banks, may Signal a potentially Different Relationship between Banks and the Federal Government.

NYC Wins When Everyone Can Vote! Michael H. Drucker

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