Banking Latest News: Senate OKs Latest Obama Nominee, Despite Grumbling

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Banking Latest News: Senate OKs Latest Obama Nominee, Despite Grumbling

Banking Latest News: Senate OKs Latest Obama Nominee, Despite Grumbling
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Banking Latest News: Senate OKs Latest Obama Nominee, Despite Grumbling

by Wochit 0:51 mins

The Senate has easily confirmed Fred Hochberg for a second term heading the Export-Import Bank as a bipartisan pact seems to be holding over seven of President Barack Obama's stalled nominations. U.S. Treasury Secretary Jacob Lew says delays in writing rules to put the 2010 financial overhaul law into effect have raised the prospect that big banks could still threaten the financial system's stability. Federal Reserve Chairman Ben Bernanke said the U.S. central bank still expects to start scaling back its massive bond purchase program later this year, but he left open the option of changing that plan if the economic outlook shifted.

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