Jan. 10, 2012 – White House Chief of Staff Jack Lew is President Obama’s choice of successor to Tim Geithner as Treasury secretary, reports said Wednesday.
Lew has served as the White House budget director and as deputy secretary at the State Department. Last May, NAFCU President and CEO Fred Becker met with Lew during a cooperative summit at the White House. Lew called credit unions an important source of capital for small-businesses. His nomination is subject to Senate confirmation.
The Washington Post reported that his appointment as Treasury secretary would open the door for Geithner to move on, which he reportedly has wanted to do for more than a year.
Reports Wednesday also said Attorney General Eric Holder plans to stay on.