CUs’ Bacino Eyes Housing FinanceBoard

WASHINGTON - (07/19/06) – The Senate Banking Committee isexpected to vote as early as this week to endorse formerNCUA’s Board member Geoffrey Bacino to the Federal HousingFinance Board, along with several other important Bush nominees,for approval by the full Senate. Bacino, who has worked as creditunion liaison with auto financer CENTRIX Financial the past threeyears, told the Senate panel during confirmation hearings hesupports efforts by the regulator of the 12 Federal Home Loan Banksto create transparency in their financial reporting. He also saidit is important that the Finance Board move to fill its independentdirectors seats at the 12 banks. The credit union executive isexpected to be considered by the full Senate along with BushAdministration candidates to fill vacancies on the Federal ReserveBoard, at the Export-Import Bank, and the U.S. Mint.