June 10, 2017 / 6:38 PM / 2 years ago

Fannie Mae's Brooks to be nominated U.S. deputy Treasury secretary -Axios

WASHINGTON (Reuters) - President Donald Trump plans to nominate Brian Brooks, general counsel for Fannie Mae, as deputy secretary of the U.S. Treasury, Axios reported on Saturday, citing three sources it said had knowledge of the pick.

Brooks oversees the legal department and government and industry relations at the Federal National Mortgage Association, commonly known as Fannie Mae, a government-sponsored entity that provides financing for mortgage lenders. He is senior adviser to the chief executive and board of directors.

Brooks worked at California bank OneWest with Treasury Secretary Steven Mnuchin, who wanted a loyalist for the post, according to two of Axios’ unidentified sources.

A White House spokeswoman would not confirm the report.

The position requires U.S. Senate confirmation.

Trump’s first pick for the job, Goldman Sachs Group Inc banker James Donovan, withdrew his name last month for personal reasons.

Earlier this year, the White House had considered Brooks to lead the Consumer Financial Protection Bureau, according to CNBC.

Reporting by Doina Chiacu; Editing by Bill Rigby

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below