Biden Withdraws Bank Regulator Pick After Congressional Pushback

President Joe Biden’s pick for a top banking regulation position was withdrawn on Tuesday after strong pushback from Senate Republicans and several Democrats.

Saule Omarova, a professor at Cornell Law School, drew criticism for her proposals to dramatically centralize banking and her thesis on Karl Marx, widely seen as the founder of communism.

Biden said in a statement that Omarova asked him to withdraw her nomination to be comptroller of the currency and he agreed to do so.

“As a strong advocate for consumers and a staunch defender of the safety and soundness of our financial system, Saule would have…

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