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.

Next: ICBA remains in conversation with policymakers about the nomination.

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