Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Senators Vote 57-41 for Watt as FHFA Leader
WASHINGTON (12/11/13)--Rep. Mel Watt (D-N.C.) has been confirmed by a 57 to 41 vote in the U.S. Senate to become the director of the Federal Housing Finance Agency.
 
Earlier in the day, the Senate approved a series of procedural votes that cleared the way for the final approval of Watt's nomination.
 
The Obama administration's success in getting its nominee for FHFA director through the confirmation process owes a nod to the recent changes in the Senate's filibuster rules. 
 
The chamber voted a reported 57 to 49 to move Obama's FHFA choice forward. Prior to the filibuster rule changes, it would have required 60 votes to move ahead—a near impossibility in Watt's case where support and opposition were clearly delineated along party lines.
 
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.



RSS print
News Now LiveWire
Expanded ATM services at branches attractive to members: @CFIGroup. See #NewsNow Friday
3 hours ago
#FinCEN imposes civil money penalty against NJ's BPI money services co. for #BSA violations http://t.co/WnDzOcxdOZ
5 hours ago
.@ABCULCUs give hat tip to America's #100MM #creditunion milestone http://t.co/q8yo6Lx3LM
6 hours ago
The @CFPB has announced new Credit Union Advisory Council members, as well as other senior leaders, advisory board and council members.
7 hours ago
GDP expanded 4.2% on an annualized basis in 2Q according to Bureau of Economic Analysis
7 hours ago