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    A look into the ugly and incredibly personal fight over Biden's pick to oversee banks

    An ugly battle is being waged over Saule Omarova, President Biden's nominee to oversee most of the money held by banks. Her confirmation hearing is on Thursday.
    by David Gura Nov 18, 2021 4 minutes
    Cornell University Professor Saule Omarova testifying on fintech at a hearing organized by the Senate Banking committee on Sept. 18, 2018. Today, Omarova is President Biden's nominee to head the agency that oversees the majority of the assets held by the country's banks, and she will appear in front of the same Senate committee for her confirmation hearing on Thursday.

    The president's pick to become a top banking regulator doesn't usually attract a lot of interest, but this time is different.

    President Biden has nominated Saule Omarova, a law professor at Cornell University, to be the next head of the Office of the Comptroller of the Currency (OCC), which is responsible for regulating the assets held by more than 1,000 banks.

    Progressive Democrats applauded that announcement, seeing in her a person who would bring a tougher approach to banks at an agency that has been criticized for being too friendly with he sector. But Republican critics, including Sen. Patrick Toomey, R-Pa., see someone else: a "radical" nominee who wants to nationalize banking.

    Omarova has attracted unusually personal criticism from some it.

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