Senate Majority Leader Harry Reid (D-Nev.) has moved forward with the confirmation of Rep. Mel Watt (D-N.C.), President Obama's choice as director of the Federal Housing Finance Agency.
Reid filed a motion to invoke cloture on Watt's confirmation on Monday. The motion was added to Tuesday's Senate executive calendar.
The North Carolina Democrat needs 60 votes for his confirmation to proceed to a final vote in the Senate.
Edward DeMarco has been serving as acting director.
Senate Banking Committee Chairman Tim Johnson (D-S.D.) expressed support for Watt after cloture was filed on his nomination as the head of the FHFA.
“There is no legitimate reason Mel Watt should not be confirmed as the director of the Federal Housing Finance Agency, and I look forward to the Senate vote on his nomination later this week. It is important to fill this role as soon as we can, so the agency can fully assist in helping stabilize the housing market as our economy continues to recover from the financial crisis,” said Johnson in a statement.
“Mel's decades of experience with housing finance policy, and his proven ability to get results by working with colleagues, consumer advocates and industry leaders make him an ideal pick to lead the FHFA,” Johnson added.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
