Chairman Scott Considers Nominees at Ginnie Mae, FHA, FDIC, and the Mint

Chairman Scott Considers Nominees at Ginnie Mae, FHA, FDIC, and the Mint

Washington, D.C. - Senate Banking Committee Chairman Tim Scott today delivered the following remarks at a hearing to consider the following Trump administration nominees: Mr. Joseph Gormley, to be President, Government National Mortgage Association, Department of Housing and Urban Development; Mr. Francis Cassidy, to be Assistant Secretary, Department of Housing and Urban Development; Mr. Paul Hollis, to be Director of the Mint, Department of Treasury; and Mr. Travis Hill, to be Chairperson of the Board of Directors, Federal Deposit Insurance Corporation.

Chairman Scott's opening remarks as delivered:

I want to begin by welcoming each of our nominees and thanking you for your willingness to serve.

Public service is never easy - especially at a time when Democrats seem more focused on political games and shutdown theatrics than on governing through regular order.

As a matter of fact, you have one thing in common that will stop you from getting nearly a single Democrat vote - you were nominated by Donald J. Trump. Plain and simple.

Not your qualifications. Not your amazing stories. Not your strong commitment to our country. One thing stands in the way of getting, maybe, any votes on the left. Even though, frankly, Travis, you, I think went through unanimous consent last time, basically. Times have changed since you've been here. I thank you for your willingness to continue to serve.

Each of you has stepped forward at a critical moment for our country, and I appreciate your commitment to serving the American people.

Today's hearing is about more than confirming individuals to important posts.

It's about making sure the institutions that drive our economy, bolster our housing market, and grow our global footprint are effective and focused on expanding opportunity for hardworking families across this remarkable nation.

The agencies represented here today touch the daily lives of Americans in ways that often go unseen but are deeply felt, from the homes we buy, to the money we use, to the jobs supported by American exports.

Mr. Gormley and Mr. Cassidy, your leadership at Ginnie Mae and the FHA will be central to ensuring that our housing finance system remains stable, fair, and accessible.

Millions of families dream of owning a home - I know we did - and that dream must be rooted in sound policy that protects both borrowers and taxpayers.

I'm hopeful that under your guidance, these agencies will continue to strengthen access to affordable housing while maintaining the fiscal responsibility that working families expect.

Acting Chairman Hill, your role at the FDIC is equally critical.

The Deposit Insurance Fund is one of the bedrocks of confidence in our banking system.

Safeguarding that fund - and the trust of millions of depositors - requires good judgment and accountability.

I also look forward to hearing your perspective on important regulatory reform efforts, including on reputational risk and returning the focus of bank exams to the core principles of safety and soundness.

Mr. Hollis, as Director of the U.S. Mint, you will oversee an institution fundamental to the integrity of our currency.

Americans trust that when they hold a dollar, it represents strength and stability.

Maintaining that confidence is essential to our economic leadership at home and, frankly, abroad.

Together, these nominees represent an opportunity to restore trust in government institutions and to deliver results that improve people's everyday lives.

At the heart of this Committee's work is a simple but powerful principle: every family deserves a fair shot at building a better life.

That means sound markets, fair rules, and leadership that puts people - not politics - first.

I look forward to working with my colleagues to move these nominations forward so that these nominees can get to work on behalf of the American people.

Thank you all for being with us today, and I look forward to your testimony.

• Print
• Email
• Tweet