Biden poised to break with Brown, progressives in picking top bank cop
President Joe Biden's expected nomination of a former Obama Treasury Department official to regulate national banks is triggering fierce opposition from progressive activists, who say the president's choice is too closely tied to the finance industry.
Biden's planned selection of Michael Barr to lead the Office of the Comptroller of the Currency also marks a break from Sen. Sherrod Brown , who is in line to chair the Senate Banking Committee, which will vet the nomination. Brown has been advocating for a competing candidate, law professor Mehrsa Baradaran, an expert on the racial wealth gap who has called for the delivery of banking services through the U.S. Postal Service.
Watchdog groups and racial justice organizations on Thursday spoke out against Barr's selection, which had yet to be announced but became public through press reports. Activists said they planned to take their case to liberal allies in Congress, including Brown and Sen. Elizabeth Warren , who also serves on the Banking...
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