President Biden will withdraw the nomination of Saule Omarova to head the Office of the Comptroller of the Currency after a contentious nomination battle.
Omarova was Biden’s pick for a position that would have put her in charge of regulating banks, a nomination that was largely lauded by progressives who have called for the agency to conduct more strict supervision.
But critics argued Omarova was a “radical choice,” saying the nominee wanted to nationalize banking, while questioning whether she remained wedded to the ideologies of her native Soviet Union.
