CUs’ Bacino Eyes Housing Finance Board

WASHINGTON – The Senate Banking Committee is expected to vote as early as this week to endorse former NCUA’s Board member Geoffrey Bacino to the Federal Housing Finance Board, along with several other important Bush nominees, for approval by the full Senate. Bacino, who has worked as credit union liaison with auto financer CENTRIX Financial the past three years, told the Senate panel during confirmation hearings he supports efforts by the regulator of the 12 Federal Home Loan Banks to create transparency in their financial reporting. He also said it is important that the Finance Board move to fill its independent directors seats at the 12 banks. The credit union executive is expected to be considered by the full Senate along with Bush Administration candidates to fill vacancies on the Federal Reserve Board, at the Export-Import Bank, and the U.S. Mint.