WASHINGTON-Senate Banking Committee Republican Staff Director Wayne Abernathy received the green light from the Senate November 14 to become the Treasury assistant secretary for financial institutions. Abernathy will replace Sheila Bair, who left the post in June for a teaching position. Abernathy has been with the committee's staff for more than 20 years and worked directly under Senate Banking Committee Ranking Member Phil Gramm (R-Texas) for the last 15. Gramm announced his retirement after this session of Congress earlier this year. Abernathy has served at the Senate Banking Committee since 1981. From 1999 to 2001, he was the staff director, but other jobs that Abernathy has held included staff director for the Subcommittee on Securities, and Economist to both the committee and to the Subcommittee on International Finance and Monetary Policy. Abernathy earned a bachelor's degree from John Hopkins University and a master's degree from the School of Advanced International Studies there. CUNA and NAFCU have supported the appointment.