12.7.21
On December 7, the Biden Administration’s nominee to head the Office of the Comptroller of the Currency (OCC), Dr. Saule Omarova, withdrew her name from consideration for the post. While popular among progressives, at her November 18 Senate Banking Committee (SBC) nomination hearing, Republicans and moderate Democrats expressed concerns over her past academic work relating to financial regulation. Following the hearing, it was reported that a few moderate Democratic Senators expressed they would not support her nomination, and with the Senate evenly divided it became clear there was no viable path forward for her nomination. It is not immediately clear whom President Biden will pick next to lead the OCC, which has been without a confirmed leader since May 2020.