November 11, 2021

On November 10, Catholic Law Professor Heidi M. Schooner published a blog post for the Niskanen Center, a Washington, D.C.-based think tank that advocates environmentalism, immigration reform, civil liberties, and strengthening social insurance around market-oriented principles. Schooner’s blog post, “Personnel is Policy at the OCC,” comments on President Biden's nomination of Professor Saule Omarova to head the Office of the Comptroller of the Currency. Professor Schooner considers the perspective Professor Omarova would offer to the challenges of regulating both large and small financial institutions.

Niskanen Center - Blog, Financial Regulation
By: Heidi M. Schooner
Date: November 10, 2021
Personnel is Policy at the OCC

The candidate is Professor Saule Omarova, chosen by Biden to run the Office of the Comptroller of the Currency (OCC), the primary federal overseer of the nation’s largest banks – including Bank of America, Wells Fargo, Citigroup, JPMorgan Chase – whose branches are found from sea to shining sea. Prof. Omarova is that rarity in American financial regulation. She is a reformer who gleaned her insights in the belly of the beast, first at the white-shoe Wall Street law firm, Davis Polk & Wardell, and later in the Treasury Department of George W. Bush. A distinguished career in academia followed, and she is now a professor at Cornell. Given her nomination to the position, it is worth considering her academic research and what insights she would bring to the role if confirmed.

To read Schooner's full post, click here.