Former Rep. Doug Barnard, D-Ca., is among those under active consideration for a seat on the Federal Housing Finance Board - probably the chairman's seat - according to congressional sources.

Also under consideration are former Rep. Bruce Morrison, DConn., and former Treasury Department lobbyist Timothy O'Neil. Mr. O'Neil would be considered for a Republican seat on the panel, government and industry sources said.

However, filling the seats on the finance board, which oversees the Federal Home Loan Bank System, may not be all that easy. Many potential candidates may object to the requirement that they work full-time. The board's former chairman and two other members left last year, when the full-time requirement took effect.

In addition, it isn't clear how long the jobs will remain fulltime. There has been talk of parceling out some of the board's responsibilities to the Office of Federal Housing and Enterprise Oversight, and some observers wonder whether Congress won't restore the finance board's parttime status if that happens.

As a result, some candidates willing to work full-time might have second thoughts.

However, with only two board members, the board lacks the quorum needed to make policy decisions.

Bruce Crain, a former lobbyist for the Savings and Community Bankers of America, is the new deputy administrator of management and policy support for the Rural Electrification Administration.

Mr. Crain was director of industry relations for the Federal Home Loan Bank of Dallas in 1990 and 1991 after being president of the Mississippi League of Savings Institutions.

He moved to Washington to become vice president for legislative affairs at the National Council of Savings Institutions, which later merged with the U.S. League of Savings Institutions to form the Savings and Community Bankers.

Lynn Fox was named deputy congressional liaison for the Federal Reserve Board. She had been a Fed special assistant.

Frank Coleman is leaving Capitol Hill, where he was press spokesman for Sen. Alfonse M. D'Amato of New York, the Senate Banking Committee's ranking Republican. He joins the U.S. Chamber of Commerce as vice president for media relations. Replacing him on Sen. D'Amato's staff is Harvey Valentine.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.