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GOP Paints Biden’s Choice For Bank Regulator As Radical

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FILE - The U.S. Capitol in Washington is shown on Dec. 29, 2020. Saule Omarova, 55, was nominated this month 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. Omarova will appear in front of the Senate Banking Committee on Thursday, Nov. 18, 2021 as part of her nomination. (AP Photo/Pablo Martinez Monsivais, File)

(AP) — President Joe Biden’s choice to run one of the agencies charged with overseeing the banking industry faced sharp questioning Thursday from Republican senators, who tried to label Saule Omarova as someone who would nationalize the U.S. banking system.

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.

 

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