Senate Confirms Rep. Mel Watt As Next FHFA Head

Law360, New York (December 10, 2013, 6:34 PM ET) -- The U.S. Senate on Tuesday evening confirmed President Barack Obama's nomination of Rep. Mel Watt, D-N.C., to lead the Federal Housing Finance Agency, after a recent change to Senate rules allowing presidential nominees to be voted up or down by a simple majority.

The Senate voted 57-41 to confirm Watt, who will take over for current FHFA acting Director Edward DeMarco. DeMarco held the position since 2009.

Rep. Maxine Waters, D-Calif., ranking member of the House Financial Services Committee, said she was elated Watt had "finally"...
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