Treasury Official Resigns to Join ABA

Treasury Assistant Secretary Wayne Abernathy is stepping down from his government post Jan. 31 to take a top-level position at the American Bankers Association.The Bush administration's point man on GSE regulatory reform last year, Mr. Abernathy frequently spoke on the need to pass legislation that strengthens the regulation of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. He also led the administration's successful efforts to pass legislation to prevent identity theft and modernize the Fair Credit Reporting Act. In a newly created position at the ABA, Mr. Abernathy will be executive director for financial institutions policy and regulatory affairs. He served as chief of staff for the Senate Banking Committee before his appointment to the Treasury Department in December 2002.