WASHINGTON — Ending several weeks of political wrangling betweenthe Senate Democrats and Republicans, the Senate on Wednesday nightconfirmed Small Business Administration Administrator Steven C.Preston to be secretary of housing and urban development.

Preston will be the Bush administration's point person duringupcoming discussions aimed at reaching agreement on a legislativepackage aimed at providing relief to people effected by thesubprime mortgage crisis. The House, Senate and White House haveoffered different proposals for how to insure up to $300 billion inrefinanced mortgages.

The House passed a measure last month as did the Senate BankingCommittee. The full Senate could take up a measure as early as nextweek.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.
NOT FOR REPRINT

© 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.