The American Prospect: Wall Street’s Attack on Biden Nominee are a red herring

The American Prospect, September 29, 2021, Wall Street’s Attack On Biden Nominee Are A Red Herring

Industry criticism of OCC pick Saule Omarova for wanting to end private banking masks their real fear of losing their derivatives businesses. Omarova would also be a key figure in the OCC’s planned overhaul to the Community Reinvestment Act, banks’ basically unenforced, decades-old requirement to lend to low-income areas. The National Community Reinvestment Coalition, which aims to end lending discrimination, welcomed the pick.