John,
The Office of the Comptroller of the Currency (OCC) is a little-known but incredibly powerful office in our federal government. It decides which companies can bank in the United States and sets standards for banks' activities in our poor and minority communities.
Right now, President Biden is in the process of naming someone to lead the OCC. He's likely to nominate Michael Barr — a former Obama administration official who has deep ties to the exploitative powers of fintech and cryptocurrency — over Mehrsa Baradaran, a banking law professor who supports reparations, postal banking, and is an expert on the racial wealth gap.
Putting Baradaran in charge would be a start to enacting much-needed systemic change in our nation. Her nomination would mean more than just healing from the last four years.
The OCC is an agency that historically let predatory lending flourish around the country, causing systemic harm to Black, brown, and Native American communities. This won't end with the Biden administration — especially if we pick someone like Michael Barr.
Progressives everywhere are pushing for Baradaran's appointment because we understand how important it is to have someone who can meet the urgency of the moment and address issues that, once solved, can provide much-needed financial security and healing to our communities.
Thanks for taking action,
Team Bowman
