Joe Biden's nominee for the Office of the Comptroller of the Currency (OCC), Saule Omarova, vowed to eliminate all private bank accounts and deposits during a virtual conference in March this year.

Omarova made the remarks during the Law and Political Economy (LPE) Project's "Law & Political Economy: Democracy Beyond Neoliberalism" earlier this year.

In one of her papers, Omarova said:

"The People's Ledger How to Democratize Money and Finance the Economy," which would help "redesign" the financial system and make the economy "more equitable for everyone."