Why would you nominate someone who just wrote a 70-page law review article–arguing that every checking account in the U.S. should be moved out of retail banks and into the Federal Reserve–to head up a bank regulatory agency, namely, the Office of the Comptroller of the Currency? And why would you stick with your nominee after an epically bad Senate confirmation hearing?
Who knows? But that’s not our problem–yet. What is of actionable concern is that the OCC nominee in question, Cornell law professor Saule Omarova, has not yet been confirmed by the Senate, and is thus not in a position–yet–to implement a plan that will erase any and all personal control over one’s electronic finances (at least those denominated in U.S. dollars).
Here’s the link to the Youtube post, which has links to the reports referenced by John: Best Evidence