WASHINGTON – The Senate Banking Committee was slated to hold confirmation hearings on a number of financial services-related nominees on June 8.
|Sheila Bair has been nominated to serve as the next chairperson of the FDIC, replacing Don Powell who has been appointed to disaster relief and reparations in the Gulf Coast region. Bair was open to credit union issues by all accounts when she served as Treasury assistant secretary for financial institutions, a great contrast to Powell who was a community banker who openly attacked the credit union tax-exemption. The FDIC has recently come under fire from CUNA for not assessing premiums despite a low and falling reserve ratio.
|Additionally, Federal Reserve Board Governor Donald Kohn has been nominated to vice chairman. NAFCU pointed out recently that he has hosted one of their annual meetings with the Fed. James Lockhart, who is serving as acting director of the Office of Federal Housing Enterprise Oversight, was also to be part of the hearing to make his appointment permanent. Kathleen Casey's confirmation hearing was at the same time for a spot on the Securities and Exchange Commission.
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