Ex-Treasury Official Barr All But Ruled Out for OCC Post
- Liberals opposed his candidacy to lead bank regulator
- Biden administration is considering other candidates
Michael Barr in 2010.
Photographer: Chris Keane/Bloomberg
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Michael Barr, an Obama-era Treasury Department official, is no longer expected to be nominated to lead a regulator that oversees Wall Street’s biggest banks, according to people familiar with the matter.
President Joe Biden had homed in on Barr as his likely pick to run the Office of Comptroller of the Currency, but his candidacy faced a torrent of opposition from liberal Democrats. That resistance has likely ended Barr’s chances, said the people who asked not to be named because no decision has been announced.