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Biden's pick for bank regulator faces rocky Senate hearing over unorthodox research ideas
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cnbc.comWASHINGTON— Saule Omarova, President Joe Biden's pick to be one of the nation's top bank regulators, is expected to face a tough round of questioning Thursday morning from senators concerned by her research that explores fundamental changes to the financial industry.
The Cornell University law professor is scheduled to appear before the Senate Banking Committee, where Republicans and at least one Democrat are likely to pepper the administration's choice to be the comptroller of the currency.
Lawmakers are all but certain to grill Omarova over unconventional ideas she's advocated, including magnifying the power of the Federal Reserve to include consumer banking and sweeping checks to the power of the likes of JPMorgan Chase and Wells Fargo.
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