On 11/18/2021, Sen. Tim Scott said, “I don’t have any questions for you because there is nothing you can say today to undo what you said for years, including this year.”
Sen Scott laid out a methodical case describing Omarova’s record in recent years. Primarily, Scott took on the stated view of Brown and other Democrats that her writings and comments were mischaracterized. “I cannot think of a nominee more poorly suited to be the comptroller of the currency based solely on your public positions, statements, and the weight of your writings than you are,” Scott said. He also brought up a comment she made earlier this year, reading her words: “Imagine what it would be like if instead of just a public option for deposit banking, this would be actually the full transition. In other words, there would be no more private bank deposit accounts and all of the deposit accounts will be held directly at the Fed.”
“In a roundtable this year, you pushed to make the NIA the dedicated institutional platform at the federal level for really being the kind of fighting muscle of the Green New Deal,” Scott said.
Saule Omarova, a law professor at Cornell Law School, testified to the Senate Banking Committee on Thursday for the head job at the Office of the Comptroller of the Currency. The OCC, which regulates national banks and federal savings associations, also works alongside the Federal Reserve and the Federal Deposit Insurance Corporation in policing the entire U.S. banking industry.
Scott skirted bringing up Omarova’s background growing up in the Soviet Union. Senate Banking Committee Chair Sherrod Brown (D-Ohio) exchanged barbs with Kennedy, characterizing the Louisiana senator’s remarks as “character assassination.” The part of Sen. Scott’s speech Brown used is, “I keep hearing my friends on the other side refer to personal attacks. One thing I can say and be very proud of on this committee from these Republicans: Not a single person has talked about anything other than your stated position as it relates to this nomination,” said Sen. Tim Scott.
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Nothing You Can Say Today, Sen. Tim Scott Questions OCC Nominee Omarova