White House appoints Treasury position

Northwestern Financial Review, Aug 1-Aug 14, 2002

The White House has selected Wayne A. Abernathy, the Senate Banking Committee's minority staff director, to be the Treasury Department's assistant secretary for financial institutions. The position, which requires Senate confirmation, has been vacant since June 21, when Sheila C. Bair resigned. Abernathy worked on the Investor and Capital Markets Fee Relief Act signed into law by President Bush in 2002.

The law reduces the fees collected by the Securities and Exchange Commission by $5 billion over 10 years. He has also served on the staff of the Subcommittee on International Finance and Monetary Policy of the Senate Banking Committee. Abernathy is a 1980 graduate of the School of Advanced International Studies at Johns Hopkins University.