GOP paints Biden’s choice for bank regulator as radical

KIFI

Published November 18, 2021 8:31 AM

By KEN SWEET
AP Business Writer

WASHINGTON (AP) — President Joe Biden’s choice to become one of the top banking regulators endured a contentious nomination hearing Thursday, with Republican senators warning she would nationalize the U.S. banking system and Democrats saying she’s eminently qualified and would be tough overseer of Wall Street. Saule Omarova, 55, was nominated in September to be the nation’s next comptroller of the currency. If confirmed, she would be the first woman and person of color to run the 158-year-old agency. Many Republicans and the banking industry have taken issue with several papers published during her career where she’s proposed wholesale changes to the banking system.

Article Topic Follows: AP National Business

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