“Dr. Saule Omarova’s Radical Ideas Would End Banking As We Know It”
Nov 18 2021
WASHINGTON – U.S. Senator Jerry Moran (R-Kan.) – a member of the Senate Committee on Banking – spoke on the Senate floor in opposition to President Biden’s nominee for Comptroller of the Currency, Dr. Saule Omarova. Her nomination hearing in front of the Senate Banking Committee occurred this morning.
“Although Dr. Omarova claims to support community banks, her plan would relegate them to mere franchises of the larger Federal Reserve, and her comments have alarmed many community bankers,” said Sen. Moran. “They have grave concerns about her policies that would, as she said, ‘end banking as we know it.’ We must continuously work to improve our financial sector for everyone, but forcing consumers to bank with the government would do so much more harm than good. Kansans want less government in their lives, not more.
“Unfortunately, Dr. Omarova’s confirmation hearing this morning only deepened my concerns,” continued Sen. Moran. “Her radical views have no place in the role of the nation’s top bank regulator. By nominating Dr. Omarova, President Biden looks to fundamentally reshape banking from a market-driven industry to a one-size-fits-all government takeover.”
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