Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
NEW: Obama Nominates Watt To Lead FHFA
WASHINGTON (UPDATED: 5/1/13, 3:15 P.M. ET)--Rep. Mel Watt (D-N.C.) has been nominated to serve as the next Federal Housing Finance Agency Director by President Barack Obama.

Obama made the announcement in remarks at the White House this afternoon.

The congressman "has a strong understanding of financial services issues and has been willing to listen to credit unions and consider our issues throughout the years," Credit Union National Association President/CEO Bill Cheney said Wednesday.

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 N.C. bank commissioner Joseph Smith to serve as full-time director, but that nomination was not confirmed.


RSS print
News Now LiveWire
Falling #gas prices: Pros, cons for U.S. economy #NewsNow #Market http://t.co/XWwwERwe7e
14 hours ago
Members of Interstate FCU have voted to merge with Credit Union of Southern California https://t.co/yYeSWEG4GH
17 hours ago
.@InfinityFCU has named Liz Hayes as president/CEO. Hayes was formerly EVP and chief administrative offficer at @Affinity_Plus
17 hours ago
.@wpcu battles Speedway in round 3 of Dayton Brand Madness via @DBJnews http://t.co/EbQL5f9be8
19 hours ago
New at #NewsNow: Fed regulators approve new #QRM rule. http://t.co/Bdz5q43xjZ
19 hours ago