ABA welcomed the news. ABA President and CEO Rob Nichols said,
The Treasury Secretary has a critical role in promoting the overall strength of the economy and examining regulatory programs to ensure they do their part to support economic growth. Mr. Mnuchin has outlined an agenda to address regulatory issues so banks can make more loans and help fuel our nation’s economic growth. We look forward to working with him and the new administration on policies that will reinforce financial recovery and economic progress.
In a bipartisan 18-1 vote, the Senate Small Business Committee on Tuesday voted to confirm Linda McMahon as administrator of the Small Business Administration. The Senate Judiciary Committee also approved Sen. Jeff Sessions’ nomination as attorney general by a party-line vote yesterday. All three nominees must now be approved by majority votes in the full Senate.