Jerome Powell, the Fed chair that will hold his job, is a Trump appointee…
Biden has advanced Saule Omarova to become the head the Office of the Comptroller of the Currency….
Democratic, NOT Republican US Senator’s, five of them have told the Biden people she is a ‘no go’….
She will joining other Democratic high level people that during the Trump admin spoke their minds against things….
Biden has found no confirmation spots for several that would not get cob firmed by the Senate…..
But the point IS clear….
US Senator’s of BOTH parties do NOT want government regulators tampering to much with the baks, even if Senator Warren does….
There is also a hesitation to ok Omaarova due to her growing up in Kazakhstan….
Five Democratic senators have told the White House they won’t support Saule Omarova to head the Office of the Comptroller of the Currency, effectively killing her nomination for the powerful bank-regulator position.
Why it matters: The defiant opposition from a broad coalition of senators reflects the real policy concerns they had with Omarova, a Cornell University law professor who’s attracted controversy for her academic writings about hemming in big banks.
- Their opposition also hints at a willingness of some Democratic senators to buck the White House on an important nomination, even if it hands Republicans a political — and symbolic — victory.
- Republicans have attacked the Kazakh-born scholar in remarkably personal terms, and turned her nomination into a proxy battle over how banks should be regulated.
Driving the news: In phone call on Wednesday, Sens. Jon Tester (D-Mont.) Mark Warner (D-Va.) and Kyrsten Sinema (D-Ariz.), all members of the Senate Banking Committee, told Sen. Sherrod Brown (D-Ohio) — the panel’s chairman — of their opposition.
- They’re joined in opposing her by Sens. John Hickenlooper (D-Colo.) and Mark Kelly (D-Ariz.).
- The five senators’ offices either declined to comment or did not immediately respond to a request for comment.
Go deeper: Biden officials also have heard directly from the senators. They’re aware of their deep opposition and know Omarova faces nearly impossible odds for confirmation….