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September 22 (Reuters) – US President Joe Biden plans to appoint Saule Omarova, a law professor who has criticized cryptocurrencies and has advocated for the government to play a much larger role in banking, to lead the office of the Comptroller of the Currency (OCC), Bloomberg News reported on Wednesday https://bit.ly/3AAren4.
Omarova will be called upon to lead the OCC as of this week, Bloomberg reported, citing three people familiar with the nomination process. If confirmed, she would be the first woman to become the agency’s full leader, the report adds.
The White House did not immediately respond to a request for comment from Reuters.
Originally from Kazakhstan, Omarova has been a professor at Cornell University Law School since 2014, according to her LinkedIn profile. In 2006-07, she served as Special Advisor on Regulatory Policy to the US Treasury Department under former President George W. Bush.
Democrats have quarreled over the best leader of the OCC, the agency that regulates the country’s big banks. Former Treasury official Michael Barr and law professor Mehrsa Baradaran are also said to be under consideration for the post before being dropped by the Biden administration.
(Reporting by Niket Nishant in Bangalore and Michelle Price in Washington; editing by Anil D’Silva)
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