Biden’s pick for bank watchdog pulls out after GOP accusations of communism

President Biden’s pick to lead a top bank regulator withdrew her nomination Tuesday after blistering attacks from Republicans and concerns among moderate Democrats.

Saule Omarova, who Biden nominated to lead the Office of the Comptroller of the Currency, pulled herself from consideration in a letter Biden released Tuesday, calling her nomination “untenable.”

“As a strong advocate for consumers and a staunch defender of the safety and soundness of our financial system, Saule would have brought invaluable insight and perspective to our important work on behalf of the American people,” Biden said in a statement.