Biden bank regulator pick Saule Omarova withdraws after Senate fight over her background

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  • President Joe Biden’s nominee for comptroller of the currency, Soule Omarova, has withdrawn from Senate consideration for the position.
  • Omarova’s return came after concerns from Republican senators about her writings as a legal scholar, as well as her background of being raised in the former Soviet Union.
  • Biden denounced “unreasonable personal attacks” on Omarova, “that were too far-fetched.”

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President Joe Biden’s nominee for comptroller of the currency, Soule Omarova, withdrew from Senate consideration for the position on Tuesday.

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Omarova’s return as a legal scholar followed concerns from Republican senators about the writings of the Cornell University professor, as well as her background in being raised in the former Soviet Union.

“I don’t know whether to call you a professor or a comrade,” Sen. John Kennedy, R-La. said in its confirmation hearing, in a pinch, which was criticized by Democrats.

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Biden on Tuesday denounced “unreasonable personal attacks” on Omarova, “that were too far-fetched.”

“I named Saul because of his deep expertise in financial regulation and his long-honored career as a leading academic in the private sector, public sector and sector,” Biden said.

“As a strong advocate for consumers and a staunch defender of the security and soundness of our financial system, Soule will bring invaluable insight and perspective to our important work on behalf of the American people.”

“It was a great honor and a true privilege to be nominated by President Biden to head the Office of the Comptroller of the Currency, overseeing the US national banking system,” Omarova said in her own statement.

“I deeply value President Biden’s belief in his abilities and remain firmly committed to the administration’s vision of a prosperous, inclusive and just future for his country. At this point, however, in the process, for me It is not possible to continue in this post now. Presidential candidate.”

This is breaking news. Please check back for updates.

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