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Biden pulls nomination for top banking nominee over concerns in Senate

Dec. 8 (UPI) -- President Joe Biden will have to nominate someone else to head the Office of the Comptroller of the Currency.

Biden on Tuesday withdrew his nomination of Saule Omarova to take over the post, recognizing that she doesn't have the support for Senate confirmation.

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Biden nominated Omarova for the position in September, which would have made her head of the independent federal agency that oversees foreign and domestic banks in the United States.

Omarova's confirmation process in the upper chamber, however, has made it clear that confirmation is unlikely.

She's faced staunch opposition from Senate Republicans over her views on banking, which GOP lawmakers have slammed as "socialist," and for the simple fact that she was born in the former Soviet Union.

But it's voices of concern from some Democrats that ultimately sunk Omarova's appointment, given Democrats' one-vote majority in the Senate.

Biden said on Tuesday that he'd accepted Omarova's request that her nomination be withdrawn.

"I nominated Saule because of her deep expertise in financial regulation and her long-standing, respected career in the private sector, the public sector, and as a leading academic in the field," Biden said, according to CNBC.

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Omarova would have been the first woman, person of color and immigrant to hold the position.

This week in Washington

Brian Deese, Director of the National Economic Council, speaks during a news conference in the James S. Brady Press Briefing Room at the White House on Thursday. Photo by Tasos Katopodis/UPI | License Photo

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