Senators Should Reject Comptroller of Currency Nominee Saule Omarova
WASHINGTON – In a hearing today, Senators on the Banking Committee will consider the nomination of Saule Omarova to be Comptroller of the Currency.
Senior fellow John Berlau said:
“Saule Omarova’s statements calling for nationalization of deposit banking, wishing for bankruptcy of small energy companies, and sympathizing with the social policy of her native Soviet Union render her unfit to serve in the vital position of Comptroller of the Currency. Despite her professed newfound love of community banks in her confirmation statement, Omarova stated in a law review article published just last month that she believes in an ’ultimate ‘end-state’ whereby central bank accounts fully replace—rather than compete with’ all ’private bank deposits.’ She has called for a system in which the government can automatically ‘credit’ or ‘debit’ – meaning take money from – the ‘Fed Accounts’ she would have replace deposits at private banks. If confirmed as Comptroller, Omarova could do much harm with the power to regulate those banks she has admitted to having an inherent bias against. The U.S. Senate should reject Omarova’s nomination, as her red flags cannot be ignored.”