Senate Banking Nominations (Mar. 10)

Senate Banking has the ignominious distinction of being the only Senate committee to have not acted on a single nominee before it in the 114th Congress.  There are currently 16 nominations waiting for Committee action.  These aren’t small time positions — the logjam includes nominees to the Fed’s Board of Governors and senior Treasury, SEC, FDIC, and Ex-Im posts.

For months, Chairman Shelby has defended his Committee’s inaction by citing two issues — he was facing a live primary threat and President Obama has not yet nominated a Federal Reserve vice chair for supervision, a prerequisite.

Logjam Lifting at Long Last?

Shelby’s primary behind him, he has scheduled a March 15 hearing for two SEC nominees, Lisa Fairfax and Hester Peirce.  Fairfax teaches at George Washington University and Peirce is a senior research fellow at George Mason’s Mercatus Center. The Committee will not be considering either of the two Federal Reserve nominees, nor Adam Szubin, nominated for Treasury’s top post in terrorism and financial crimes.

Even if the Committee confirms the three nominee scheduled for its next hearing, it will have hardly made a dent in the queue.

Nominations have continued despite the dearth of hearings on them.  On March 3, President Obama nominated Brian Quintenz and Chris Brummer to the Commodities Futures Trading Commission (CFTC).  Quintenz, a Republican, works for Saeculum Capital in D.C. and Brummer, a Democrat, is a professor at Georgetown University Law School.

Backlog at Banking

With 16 unfilled vacancies before it (Messrs. Quintenz and Brummer will make it  18), the Banking Committee has its work cut out for it.  The Chairman’s refusal  to consider any Fed nominee until Obama nominates a vice chair for supervision means that those two critical positions may remain unfilled longest.   Key vacancies exist at the Export-Import Bank as well, because the board does not have enough members to reach quorum it is unable to approve loans in excess of $10 million, severely hampering its impact on export promotion deals.

With so many nominees waiting to receive a hearing and the number legislative days the Senateremaining this session rapidly dwindling, it’s no surprise that the  Democrats on Banking have been pushing harder than ever for the Chairman to move forward quickly.

In a letter sent to Sen. Shelby, Ranking Member Sherrod Brown and his colleagues wrote “For more than a year, the committee has failed to carry out one of its basic duties … Failure to act impairs agencies’ and offices’ ability to fulfill all of their functions.”

The pending list includes the nominations below:

Federal Reserve

•  Allan R. Landon, of Utah, to be a Member of the Board of Governors of the Federal Reserve System for the unexpired term of fourteen years from February 1, 2016 [PN 3]. (Reappointment)

•  Kathryn M. Dominguez, of Michigan, to be a Member of the Board of Governors of the Federal Reserve System for the unexpired term of fourteen years from February 1, 2004, vice Jeremy C. Stein, resigned.

Federal Deposit Insurance Corporation

•   Jay Neal Lerner, of Illinois, to be Inspector General, Federal Deposit Insurance Corporation, vice Jon T. Rymer, resigned

Treasury Department

•  Adam J. Szubin, of the District of Columbia, to be Under Secretary for Terrorism and Financial Crimes, vice David S. Cohen, resigned

•  Amias Moore Gerety, of Connecticut, to be an Assistant Secretary of the Treasury, vice Cyrus Amir-Mokri, resigned

Securities and Exchange Commission

•  Lisa M. Fairfax, of Maryland, to be a Member of the Securities and Exchange Commission for a term expiring June 5, 2020, vice Luis Aguilar, term expired

•  Hester Maria Peirce, of Ohio, to be a Member of the Securities and Exchange Commission for a term expiring June 5, 2021. (Reappointment)

Export-Import Bank

•  John Mark McWatters, of Texas, to be a Member of the Board of Directors of the Export-Import Bank of the United States for a term expiring January 20, 2019, vice Sean Robert Mulvaney, term expired.

35 thoughts on “Senate Banking Nominations (Mar. 10)”

  1. I am also commenting to let you know of the helpful encounter my friend’s daughter found reading through your web page. She figured out numerous issues, not to mention what it’s like to have an amazing giving mood to have most people really easily know selected impossible subject areas. You really exceeded our own expectations. Many thanks for imparting the invaluable, safe, explanatory and even easy thoughts on the topic to Janet.

  2. I have been exploring for a bit for any high-quality articles or weblog posts in this sort of house .
    Exploring in Yahoo I eventually stumbled upon this website.
    Studying this info So i am happy to convey that I have a very good uncanny
    feeling I discovered exactly what I needed. I so much certainly will make sure to don?t disregard this site
    and provides it a look on a continuing basis. asmr 0mniartist

  3. Simply wish to say your article is as astonishing. The clarity in your post is
    simply cool and i can assume you’re an expert on this
    subject. Fine with your permission allow me to grab your feed to keep up to date with forthcoming
    post. Thanks a million and please carry on the enjoyable work.
    0mniartist asmr

  4. Hello! I could have sworn I’ve visited this web site before but after browsing through some of
    the articles I realized it’s new to me. Anyways,
    I’m certainly happy I found it and I’ll be bookmarking it and checking back frequently!
    0mniartist asmr

  5. Excellent items from you, man. I have remember your stuff previous to
    and you’re simply extremely great. I really like what you’ve received right here,
    really like what you are stating and the way in which through which you say
    it. You are making it entertaining and you still care for to keep it
    wise. I can’t wait to learn much more from you.
    This is really a wonderful website.

  6. Hi there! This blog post could not be written much better!
    Looking at this article reminds me of my previous roommate!
    He continually kept talking about this. I’ll send this article to
    him. Pretty sure he’ll have a great read. Thank you for sharing!

  7. Thanks a lot for sharing this with all of us you really realize what you’re talking
    approximately! Bookmarked. Kindly additionally consult
    with my site =). We may have a hyperlink alternate arrangement between us

  8. Whats up this is somewhat of off topic but I was wanting to know if blogs use
    WYSIWYG editors or if you have to manually code with HTML.
    I’m starting a blog soon but have no coding knowledge
    so I wanted to get guidance from someone with experience.
    Any help would be greatly appreciated!

  9. Hi there! Do you know if they make any plugins to protect against hackers?
    I’m kinda paranoid about losing everything I’ve worked hard on.
    Any recommendations?

  10. Hi there! Do you use Twitter? I’d like to follow you if that would be ok.
    I’m definitely enjoying your blog and look forward to new posts.

  11. Its such as you read my thoughts! You appear to know a lot
    about this, such as you wrote the book in it or something.
    I think that you just could do with some percent
    to pressure the message house a bit, but other than that, this is wonderful blog.
    An excellent read. I’ll definitely be back.

  12. scoliosis
    Thanks for the good writeup. It in reality used to be a leisure account it.
    Glance complicated to far introduced agreeable from you!
    By the way, how can we keep up a correspondence? scoliosis

  13. free dating sites
    Fantastic goods from you, man. I have remember
    your stuff previous to and you are just extremely fantastic.
    I really like what you’ve acquired right here, certainly like what you are saying and the
    way in which in which you assert it. You make it enjoyable and you still take care of
    to keep it sensible. I cant wait to learn far more from you.

    This is really a terrific website. free dating sites

  14. Hey just wanted to give you a quick heads up. The text in your content seem to be running
    off the screen in Opera. I’m not sure if this is a formatting issue or something to do with web browser compatibility but I thought I’d
    post to let you know. The design look great though! Hope you get the problem fixed soon.

  15. I’m amazed, I must say. Seldom do I come across a blog
    that’s both equally educative and engaging, and let me tell you, you have
    hit the nail on the head. The problem is something which too
    few men and women are speaking intelligently about. I am very happy that I stumbled across this during my search for something regarding this.

  16. Wow that was unusual. I just wrote an extremely
    long comment but after I clicked submit my comment didn’t appear.
    Grrrr… well I’m not writing all that over again. Anyhow, just wanted to say excellent blog!

  17. It’s perfect time to make some plans for the longer term and it is
    time to be happy. I have read this submit and if I may just I wish to counsel you some attention-grabbing issues or tips.
    Maybe you can write subsequent articles referring to this article.
    I desire to learn even more things approximately it!

  18. Howdy! Someone in my Myspace group shared this website with us so I came to take a
    look. I’m definitely loving the information. I’m bookmarking and
    will be tweeting this to my followers! Superb blog and brilliant design and style.

  19. Good post however , I was wondering if you could write a litte more on this subject?

    I’d be very thankful if you could elaborate a little bit more.
    Bless you!

  20. Wow! This can be one particular of the most useful blogs We have ever arrive across on this subject. Actually Fantastic. I am also a specialist in this topic so I can understand your hard work.

Leave a Comment

Your email address will not be published. Required fields are marked *