Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Watt FHFA Nomination Not Approved In Senate Vote
WASHINGTON (11/1/13)--Rep. Mel Watt's (D-N.C.) bid to head the Federal Housing Finance Agency was blocked in the U.S. Senate Thursday after a motion to end debate on his nomination failed with a vote of 56 to 42, mostly along party lines.

Senate Majority Leader Harry Reid (D-Nev.) filed a cloture motion on Watt's nomination on Monday. Sixty "yes" votes would have ended debate and allowed Watt's nomination to proceed for a final Senate vote.

Senate Banking Committee Chairman Tim Johnson (D-S.D.), after the Thursday vote, said "this is not the end for Congressman Watt's nomination," and added that he would continue to fight to see that Watt is confirmed. The nomination could be brought up again if Senate leadership feels they have the votes needed to pass it, Credit Union National Association Senior Vice President of Legislative Affairs Ryan Donovan said.

Watt was nominated by President Barack Obama in May. 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.

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
Brenda Davis of Cross Roads Ministries will walk through 83 communities during the Ending Hunger Walking tour. (2 of 2)
42 minutes ago
The Ending Hunger Walking tour, coordinated by the Maine CU League, kicked off at Old Maine CU in Augusta today. (1 of 2)
43 minutes ago
Darwin Brokke of Citizens Community CU represented the #CU Association of Dakotas at a housing summit hosted by @SenatorHeitkamp
54 minutes ago
.@TheNCUA says its employees report high job satisfaction in the 2014 Federal Employee Viewpoint Survey. http://t.co/1nLUwrEqnA
2 hours ago
.@MeridianTrustCU has opened the first mobile banking branch in the state of Wyoming
2 hours ago