This just in from NCRC:
“Word is that President Obama has asked, get this, Rep. Mel Watt (D-NC), to step into the position of FHFA Director!
Mel is a longtime ally on the House Financial Services Committee and has demonstrated a real commitment to matters relating to Economic Justice.
I think our collective efforts over the years, in calling for the President to replace DeMarco, has had an impact. Congratulations.
We're not sure if this appointment will be via recess or directly through the U. S. Senate approval process. We will keep you informed.”
This was rumored to be in the works last fall, but some advocates were despairing of the president following through.
(Photo CC BY-NC-ND, Michael Premo.)