Letters to editor logo 7-12-21

Editor, Casa Grande Dispatch:

To the average American, the Office of the Comptroller of the Currency, an independent bureau of the Department of the Treasury, rarely, if ever, would cross their mind. However, the OCC plays a major part in regulating and overseeing the U.S.’ biggest financial institutions. This includes national banks, federal savings associations as well as federal branches and agencies of foreign banks. In simple terms, the OCC exists to protect American consumers and their deposits while ensuring they are treated justly by our nation’s banks.

When taking into consideration how significant this office is to the financial well-being of millions of American consumers and businesses, coupled with President Biden’s decision to nominate Cornell University law professor Saule Omarova to lead the office, it becomes increasingly concerning for Arizona’s small businesses community, particularly given Omarova’s well-documented, radical policy proposals.

For this reason, I call on Sens. Mark Kelly and Kyrsten Sinema to do the right thing and stand with Arizona’s small businesses, as well as the countless community banks that empower their economic growth and well-being, by opposing Saule Omarova’s nomination to the Office of the Comptroller of the Currency.

Gene Newton

Coolidge

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