Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Mel Watt FHFA Nomination Could See Vote Soon
WASHINGTON (10/29/13)--Rep. Mel Watt's (D-N.C.) nomination to lead the Federal Housing Finance Agency could soon see a Senate vote after Senate Majority Leader Harry Reid (D-Nev.) filed a cloture motion on Monday.

Watt was nominated by President Barack Obama in May. Credit Union National Association President/CEO Bill Cheney has commended Watt for his "strong understanding of financial services issues" and his willingness to listen to credit unions and consider credit union issues throughout the years.

Watt has served in the U.S. Congress since 1992, and is a veteran member of the House Financial Services Committee. If confirmed by the Senate, he would replace FHFA Acting Director Edward DeMarco, who has led that agency since Sept. 1, 2009.

Many in Congress have called for Obama to remove DeMarco and nominate a replacement. Obama in 2011 nominated former North Carolina bank commissioner Joseph Smith to serve as full-time director, but that nomination was not confirmed.


RSS print
News Now LiveWire
Tech. advances don't dampen consumer #cybersecurity concerns #NewsNow http://t.co/HNn4Hojadv
14 hours ago
.@TheNCUA board unanimously voted today to designate board member Rick Metsger as vice chairman, effective immediately.
15 hours ago
We really want to hear from our readers. Please take the News Now survey: http://t.co/BYiQ5vr5Ob
16 hours ago
Advanced technologies don't quell cybersecurity fears #NewsNow http://t.co/ZJ20bimRvv
17 hours ago
.@CentralMaineCom reports #creditunions have issued thousands of new cards to proactively protect members from Home Depot data breach.
18 hours ago