By Pete Schroeder
WASHINGTON, Nov 2 (Reuters) - The White House announced on
Tuesday it had officially sent the nomination of Saule Omarova
to lead the Office of the Comptroller of the Currency (OCC) to
the Senate for consideration.
The move confirms the White House is moving forward with the
pick despite extreme opposition to the academic from the banking
Omarova, a financial regulation professor at Cornell Law
School, has faced persistent and vocal opposition from banks
since her nomination was announced in September. If confirmed,
she would play a prominent role in directly overseeing the
nation's largest banks.
Omarova has won praise from progressives who believe she
would pursue stricter oversight and rules for Wall Street at a
critical agency. But her nomination was met with unusually
stringent and public opposition from business and banking
groups, which call her previous academic work out of the
mainstream, including suggesting the Federal Reserve provide
public bank accounts and breaking up larger firms.
"We respectfully — but strenuously — disagree with those
positions and believe they are out of step with the role for
which she is being considered," said Rob Nichols, head of the
American Bankers Association, in an October speech.
With her nomination heading to the Senate, Omarova will
likely face strong opposition from Republicans and need to
convince several moderate Democrats to support her in a Senate
that is evenly split.
(Reporting by Pete Schroeder; Editing by Sandra Maler)
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