Biden OCC Pick Could Boost Enforcement, Fintech Scrutiny

By Jon Hill (September 27, 2021, 11:16 PM EDT) -- President Joe Biden's pick for the top job at the Office of the Comptroller of the Currency has slammed Wall Street's support for Trump-era deregulation as thinly veiled greed, suggested requiring government approval for novel financial instruments and argued for "ending banking as we know it." To what extent will that guide her if she's confirmed?

Unveiled late last week, the White House's plan to nominate Cornell Law School professor and former Davis Polk & Wardwell LLP attorney Saule Omarova to oversee national banks is stirring anxiety among banks and drawing opposition from Republicans over what Sen. Pat Toomey, R-Pa., has called her...

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