* WASHINGTON (5/20/09)--Neal S. Wolin was confirmed by the Senate Monday to serve as deputy secretary to the Treasury Department. Wolin was named deputy assistant to the president and deputy counsel to the president for economic policy in February. From 2001 to 2008, he served as president/CEO for property and casualty operations at the Hartford Financial Services Group. He also served as general counsel to the Treasury from 1999 to 2001 and deputy general counsel from 1995 to 1999 ... * WASHINGTON (5/20/09)--A Small Business Administration program--America’s Recovery Capital--expected to begin mid-June could run out of funds quickly. Tony Wilkinson, president, National Association of Government Guaranteed Lenders, said there will be a lot of demand for the program and more demand than available funds (American Banker
May 19). The program will provide no-interest, deferred-payment loans to help small businesses. The loans will be disbursed over a six-month period. Payments will be deferred for one year, and after the deferral period ends, borrowers will repay the loan over five years. Commercial lenders, including credit unions, will make the loans ... * WASHINGTON (5/20/09)--Treasury Secretary Timothy Geithner said he does not believe the government should set caps on executive pay. Rather, constraints should be placed on the incentives compensation systems create. The financial crisis was magnified by people who paid to take a large amount of short-term risk, he added (American Banker
May 19). Geithner spoke at the National Press Club in Washington, D.C., on Monday. The Treasury is expected to release executive compensation rules next week as required under a stimulus amendment by Senate Banking Committee Chairman Christopher Dodd (D-Conn.) ... * WASHINGTON (5/20/09)--
Darryl Tait has joined the Credit Union National Association (CUNA) as Communication Specialist. He is based in CUNA's Washington, D.C. office. Tait will contribute to News Now
and other special projects produced by the communications department. Prior to joining CUNA, Tait worked for several publications at Falls Church, Va.-based Tax Analysts, including Financial Reporting Watch
and World Tax Daily
. He graduated with a bachelor of arts degree in English from the University of North Carolina at Greensboro ...