Obama Nominates Mel Watt to Lead FHFA

National Urban League President and CEO Marc H. Morial today issued the following statement today in support of President Obama¹s appointment of Rep. Mel Watt to head the Federal Housing Finance Authority (FHFA) and of Federal Communications Commissioner Mignon Clyburn to lead the FCC as interim Chair of the agency.

We applaud President Obama¹s personnel announcements this week, in particular the African-Americans elevated to lead critical government functions. The diversity of background and experience these talented public servants bring to their new roles is crucial to the creation of thoughtful policies that benefit all Americans." On the appointment of Rep. Mel Watt to lead the FHFA, Morial added:

Despite the difficulties millions of Americans have faced since the real estate market collapsed, homeownership is still a vital part of the American dream. The National Urban League is keenly aware of the role homeownership plays as the on-ramp to upward mobility and wealth building, particularly for African-Americans. Rep. Watt has distinguished himself as a tireless champion for the consumer in establishing fair lending and accessible housing practices. His willingness to work across-the-aisle has been demonstrated throughout his tenure on the Financial Services Committee and his leadership in helping to craft important measures such as the Dodd-Frank Act and the Consumer Financial Protection Bureau. These experiences and understanding will serve him well as he continues his work to ensure that homeownership remains accessible to and achievable for all hard-working Americans."