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Frustrated by months of congressional inaction, President Obama on Saturday made a recess appointment of Jeffrey Goldstein as undersecretary of treasury for domestic finance.

Goldstein, who was a top official of the World Bank and has extensive experience in the private sector, will oversee the Treasury Department’s policies that relate to credit unions and other financial institutions. He has been working in the Treasury Department in an advisory capacity waiting for his confirmation. Goldstein will be the boss of Michael Barr, assistant secretary for financial institutions who is the main go to person in the Treasury Department for credit union issues.

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