In a 57-41 vote, the Senate confirmed Mel Watt to serve as the director of the Federal Housing Finance Agency (FHFA). He replaces Acting Director Ed DeMarco.
Watt, a Congressman representing North Carolina’s 12thDistrict, was nominated by President Barack Obama to lead the FHFA on May 1. During his tenure, Watt served on the U.S. House Financial Services Committee and was an advocate for the Dodd-Frank Wall Street Reform and Consumer Protection Act.