You might not have heard of the Office of the Comptroller of the Currency. But there’s a fight over who the Biden administration will appoint there, and it matters.
Comptroller of the Currency is one of the most powerful appointments at the Treasury. They oversee the federal banking system and can make a real change in the lives of those who are struggling.
For the OCC role, President Biden may choose @MehrsaBaradaran, an expert in the racial wealth gap who supports postal banking and understands the ways government can make a difference in people’s lives.
President Biden is also considering Michael Barr, a man with deep ties to financial institutions that act like internet-savvy payday lenders. He even sits on a board that advocates for weaker consumer protection regulations.
It’s true that Barr has relevant high-level experience. But this moment of crisis demands a different perspective: someone who deeply understands the struggles of working people, and the root causes of the racial wealth gap.
People are hurting, and all of our government needs to be helping. We can’t afford more of the status quo that helps banks while the rest of us are fending for ourselves. President @JoeBiden: Do the right thing and choose @MehrsaBaradaran for OCC.
You can follow @JamaalBowmanNY.
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