Biden Bank-Watchdog Pick Bows Out Amid Doubts From Democrats (1)

The White House’s pick to lead a key U.S. banking regulator has withdrawn her name from consideration, with President Joe Biden citing “inappropriate personal attacks” as undermining her candidacy.

Biden accepted Saule Omarova’s request to abandon the appointment to run the Office of the Comptroller of the Currency, according to a Tuesday statement. Her nomination triggered aggressive opposition from Republican lawmakers and bank lobbyists, while revealing divisions among Democrats.

The Biden administration must now begin again the process to name a regulator of U.S. national banks including JPMorgan Chase & Co. and Citigroup Inc. At least two previous potential ...