Senate Confirms Yellen as Treasury Secretary

By a bipartisan vote of 84 to 15 tonight, the Senate approved the nomination of Janet Yellen to serve as the next secretary of the treasury. Yellen—who is only the second person to lead by the Federal Reserve and Treasury and the first woman to hold the top Treasury post—received unanimous approval by the Senate Finance Committee last week.

American Bankers Association President and CEO Rob Nichols congratulated Yellen following her confirmation. “Dr. Yellen brings a wealth of experience in economics, regulation and crisis management from her time at the Federal Reserve that will benefit the Treasury Department at this challenging time for the nation,” Nichols said. “ABA and its member banks look forward to working with her to help alleviate the painful economic effects of the pandemic and expand opportunities for all Americans.”