OCC nomination continues generating press
ICBA’s concerns with the nomination of Cornell University law professor Saule Omarova for comptroller of the currency continued generating headlines.
Coverage: Reason cited ICBA’s concerns with President Joe Biden’s announcement last month that he intends to nominate Omarova to head the OCC following similar coverage from The New York Times.
Proposals: The articles note ICBA concerns with Omarova’s proposals to overhaul the banking system. In a recent news release, ICBA cited her proposals to:
- Migrate the retail banking system to the Federal Reserve.
- Establish government banking FedAccounts that the Fed is not legally permitted to offer.
ICBA remains in conversation with policymakers about the nomination.