June 17, 2014
WASHINGTON – Today, Senate Banking Committee Chairman Tim Johnson (D-SD) held a confirmation hearing for Mayor Julián Castro, to be Secretary of the Department of Housing and Urban Development, and Ms. Laura Wertheimer, to be Inspector General of the Federal Housing Finance Agency.
Below is Chairman Johnson’s statement as prepared for delivery:
“I call this hearing to order.
“Today we consider the nominations of Mayor Julián Castro, to be Secretary of the Department of Housing and Urban Development, and Ms. Laura Wertheimer, to be Inspector General of the Federal Housing Finance Agency.
“As Mayor of San Antonio, Mayor Castro has been on the front lines of helping his community reach its housing and economic development goals. In his tenure as Mayor, he has focused on attracting well-paying jobs in 21st century industries, raising educational attainment, and revitalizing the city’s urban core. The Department of Housing and Urban Development is a critical partner in these efforts nationwide. Mayor Castro will bring both direct experience with and an appreciation of the important role that HUD programs play for families, communities, and taxpayers to the role of HUD Secretary.
“Ms. Wertheimer is a partner in the Securities Department of Wilmer Cutler Pickering Hale and Dorr. To the position of Inspector General, she brings her experience representing audit committees and evaluating procedures and compliance standards for financial institutions. It is essential that the FHFA have an IG providing strong oversight of the FHFA’s work relating to the conservatorship of Fannie Mae and Freddie Mac. The IG also has an important role monitoring the FHFA’s oversight of the Federal Home Loan Banks. Ms. Wertheimer will bring extensive experience to the position of Inspector General to ensure that the FHFA is fulfilling its mandates set forth by Congress.”